How to Encourage Your Loved Ones to Create an Estate Plan - Pt. 3 of 3

Here is a final tip for your estate planning conversation toolkit. I hope that you’ve found this 3-part series helpful to advancing those difficult conversations you may need to have with loved ones. As a quick factoid, according to a 2021 survey conducted by Caring.com, only 33 percent of adults in the United States have any estate planning documents such as a will or trust, despite the fact that approximately two-thirds of the respondents viewed such documents as somewhat or very important.[1] Many respondents attributed their lack of estate planning to procrastination, but many others indicated a mistaken belief that estate planning is not necessary because they do not have many assets.

[1] Daniel Cobb, 2021 Wills and Estate Planning Study, Caring.com, https://www.caring.com/caregivers/estate-planning/wills-survey/ (last visited August 17, 2021).

Tip #3 - Consult an estate planning attorney.

An experienced estate planning attorney can help you and your loved ones create an estate plan tailored to meet each of your unique needs and carry out your wishes, or they can assist with updating an existing estate plan. An attorney can help with putting a plan in place that will prevent unnecessary stress, legal expenses, and taxes, as well as uneven inheritances, disputes among loved ones, and delays in passing life savings on to them.

Note that all estate planning does not require hired legal assistance for what you can adequately do yourself; that is, if you are competent and have the proper knowledge. East Ocean Strategies provides several estate planning documents that have been vetted by a legal professional and provide guidance for you and your loved ones, and the peace of mind that comes with knowing that plans are in place for your care if any of you become ill and that your wishes will be honored when you pass away. Visit our Shop for estate planning document packages or contact us today to set up a meeting.