Estate Planning: Debunking Some Myths and Considering Your Legacy

Original  article by R. Kurtz (Kurt) Holloway from our website:

A well thought-out estate plan is important. A plan offers you the opportunity to make decisions and do things that will give you peace of mind. Similarly, it will spare your family and loved ones unnecessary stress, confusion and other unpleasant experiences and help avoid arguments between family members. Further, your plan sends a message about how much you cared for people, your favorite charity or both. A plan is part of the legacy you leave.



Image courtesy of photostock at FreeDigitalPhotos.net

Unfortunately, people have some common misconceptions about estate planning. Debunking the myths gets us on the road to achieving all of these benefits. Some of the more common myths include:

Myth 1: Estate planning is only for wealthy people.
 
Myth 2: Estate planning is complicated.

Myth 3: You need a will to prevent your estate from being taken by the government when you die.

Myth 4: Your estate plan should focus on how to save the most taxes.
 
Myth 5: Estate planning is expensive.
 
Myth 6: Estate planning is only about distributing your assets.

Kurt's article discusses the Myths in greater detail. Check it out. If you want assistance, legal representation, or just want to know more about R. Kurtz Holloway or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com.

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