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Many Americans do not have a proper estate plan

May 2, 2022 | Estate Planning And Probate Law

There is no way to accurately predict what will happen tomorrow, next week or years in the future. Life is unpredictable, and the best way to handle this uncertainty is to prepare well. One way Texas adults can do this is by having an up-to-date estate plan, yet many overlook the importance of this process. All adults will benefit from having an estate plan regardless of age or financial status.

Delaying the estate planning process

There are many reasons why people overlook the estate planning process, but one of the primary reasons is that they do not see the need for it. Younger adults or those who do not consider themselves wealthy may not see planning for the future as imperative at this point in their lives. A recent survey found that almost 70% of Americans do not have an estate plan.

The pandemic has helped many see why planning for the future is important. In addition to a will, it is also important to have health care directives and end-of-life planning documents as well. Some adults will also benefit from having a trust if they wish to set aside and protect assets for future use.

Confidence and peace of mind

There is no one-size-fits-all strategy for estate planning. Any Florida adult can make plans that will allow him or her to feel confident about the future knowing his or her legal and financial interests are secure. To begin the estate planning process, one will benefit from discussing plans and objectives with an experienced estate planning attorney.