Drafting a Will and managing estates can be daunting tasks, often shrouded in myths and misconceptions. One prevalent myth is that Wills are only for the wealthy. In reality, Wills are essential for anyone who wants to ensure their assets are distributed according to their wishes. Without a Will, state laws dictate how assets are divided, which may not align with your intentions. Additionally, some believe that a Will is a one-time document. However, life changes such as marriage, divorce, or the birth or adoption of children necessitate updates to reflect new circumstances accurately.
Another common myth is that estate planning is only for the elderly. Regardless of age, anyone with assets should consider estate planning to protect their loved ones and assets. Furthermore, some believe that estate planning is only about distributing assets after death. However, it also includes important documents like appointing guardians for minor children and establishing health care directives. Understanding these myths helps individuals navigate the complexities of Wills and estates, ensuring their wishes are honored and their loved ones are protected.
If you have questions about Wills and estates, give us a call at 253.858.5434 to set up an appointment today.