The Dangers of an Unnecessary Complicated Estate Plan | Monroe Township - Middlesex County
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The Dangers of an Unnecessary Complicated Estate Plan

November 22, 2016

Filed under: Estate Planning — Neel Shah @ 9:15 am

It’s the holiday season, and that means that everyone is out and about grabbing gifts, food for their favorite recipes, and preparing for some time off for work. As we approach the New Year, there’s also a decent chance that you’re mentally recapping 2016 and trying to get things in order for the year ahead, too. Even though most people recognize that an estate plan is a good set of tools to have, so many people put it off. While they might schedule an end-of-year review for their retirement plan savings, it’s often not as easy for people to confront their estate planning weaknesses. If this is you, putting it off only serves to hurt you or your beneficiaries. 

There’s no doubt that it’s uncomfortable to think about a situation in which you might be incapacitated or pass away. You might also think that you don’t have enough assets in your “estate” to worry about things. Consider that the only thing that could make a sudden disabling event or your death more difficult for loved ones is a lack of planning. An overcomplicated estate plan does not have to be for everyone. However, many people who suddenly have a vigor for estate planning do so because they’ve witnessed the problems of a friend or family member who didn’t take the time.

The loss of a loved one presents a unique set of emotional challenges, and it can be devastating to watch family members confused about or arguing over the intentions of the deceased. For many, it’s a wake-up call to begin their own estate planning process. What happens in this situation, all too often, is overcompensation. You think you need every single strategy or type of document to prevent your loved ones from suffering something similar.

Rather than backing yourself into a corner and planning from that perspective, it’s much more effective to meet with an estate planning attorney to discuss your unique needs. Our office is here to help you- contact us today at info@lawesq.net.

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