What Are The Common Estate Planning myths

Image Credit : Pixabay.com Image Credit : Pixabay.com By : Raam Dhakad By : Raam Dhakad KYD - Personal Finance KYD - Personal Finance

[{"selector":"#anim-ff53ddc1-5794-4ba2-8c66-710d5496258d","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b00e0cf1-9800-44a1-a919-a2815a360f09","keyframes":{"transform":["translate3d(0px, -444.68782%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1f2d65e2-2faf-4c7d-9656-f7a03f42a5ec [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Image Credit : Pixabay.com Image Credit : Pixabay.com An estate plan isn't just for the wealthy, and it doesn't need to be an overly complicated or expensive process. For some, estate planning can be quite a confusing topic.

[{"selector":"#anim-0fe22e92-e1eb-4b80-8c57-c0f6a1161299","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a5c9262c-c4c9-47f7-8599-bcf3ebb243e6","keyframes":{"transform":["translate3d(0px, -444.68782%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1d1a541d-24d7-49d1-8289-3b27fcfa27cc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.25669631483779%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Image Credit : Pixabay.com Image Credit : Pixabay.com An estate plan isn't just for the wealthy, and it doesn't need to be an overly complicated or expensive process. For some, estate planning can be quite a confusing topic.

[{"selector":"#anim-1bb6dcb5-1671-41e5-943c-f79547df9512","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1319554e-2978-42ee-b997-1263f2fb2af2","keyframes":{"transform":["translate3d(0px, -444.68782%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1b96aecc-6a0a-4bfd-8276-c8132bbffda3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.376689076183663%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Image Credit : Pixabay.com Image Credit : Pixabay.com Estate planning can not only prevent family conflicts, but it can also prevent loved ones from making painful health care decisions. The sooner you start, the better.

[{"selector":"#anim-561093b8-5800-4b26-9f7e-e9cc3e4f0e05","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e6dd8566-2af6-4e0a-aaf0-df27a9d43337","keyframes":{"transform":["translate3d(0px, -398.87485%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6d7c8f71-76d6-4f13-8a5a-25218c0e38d4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.203124885941293%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The confusing nature of estate planning is often compounded by the various estate planning myths that people hear from friends or family members who are not knowledgeable about estate planning law.

[{"selector":"#anim-7ade66e6-5d7e-4489-a9f1-3b06bdcd5373","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f40bbccc-797a-42be-a459-e217752658ff","keyframes":{"transform":["translate3d(0px, -639.18126%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-94ace59b-375f-4f66-8c61-b52dddacbba4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(21.874999829338595%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Image Credit : Pixabay.com Image Credit : Pixabay.com There are some misconceptions about estate planning as well as the realities behind them. Let's know about them.

Estate Planning is only for the rich.

[{"selector":"#anim-d7d012c4-c099-49c3-8088-a7604f172762","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c39c6d17-ac7a-4da4-83f4-8553b33a0285","keyframes":{"transform":["translate3d(0px, -657.03696%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-187e99ad-398c-4869-a73a-ffae5b8936ba","keyframes":{"opacity":[0,1]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e8ea0583-52ec-4944-a748-d69a93f1aff1","keyframes":{"transform":["translate3d(0px, -820.3702%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-51b4dc8e-d9ed-48be-9f0d-314f57cb0953","keyframes":{"opacity":[0,1]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7c543eb1-4d0b-4b96-beb5-83a94d2cc254","keyframes":{"transform":["translate3d(0px, -982.0368%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-999449d2-d92c-4ac0-8eac-dc124d15c2bd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.240844612732676%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Image Credit : Pixabay.com Image Credit : Pixabay.com

It is very complicated to set up.

[{"selector":"#anim-0d7305ae-82b6-4694-8cbf-00aca3f64182","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6c562483-0fae-4036-bb18-b14f75ee7cb8","keyframes":{"transform":["translate3d(0px, -814.94919%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d271332d-f164-4772-b0f5-09cfd4ccefd3","keyframes":{"opacity":[0,1]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3b2935ce-d9db-4dcb-be49-b3f6aecc910b","keyframes":{"transform":["translate3d(0px, -887.03683%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7f5e7677-627d-4b04-9dc1-39f69acd0f94","keyframes":{"opacity":[0,1]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-24da1401-d140-48b9-9060-e8d3da91b3e9","keyframes":{"transform":["translate3d(0px, -1060.72832%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c92ebe17-d2c5-406a-b011-a619650d6d84 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.25669631483779%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Image Credit : Pixabay.com Image Credit : Pixabay.com A will can oversee the distribution of all my assets.

I need a lawyer to draft these documents.

[{"selector":"#anim-8be861a8-472d-4835-b818-4e192d449499","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc9a23b1-9e8c-42f3-b6a6-6c25e807b988","keyframes":{"transform":["translate3d(0px, -740.04209%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-edcafbc8-f293-431f-9237-9eaac31d651d","keyframes":{"opacity":[0,1]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-22c7954e-a7fb-4dae-b522-2b0659d7d5d2","keyframes":{"transform":["translate3d(0px, -887.67641%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0cab5e6-7289-4f16-8490-9464efc630ca","keyframes":{"opacity":[0,1]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-11c21262-2462-40dd-a161-090f92a561ae","keyframes":{"transform":["translate3d(0px, -982.0368%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5229652d-a4a5-49b1-a2ad-fcdfefdd2f29 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Image Credit : Pixabay.com Image Credit : Pixabay.com I don’t have enough money to worry about property taxes. I might be better prepared to make a will when I’m older.

More Info Click Here

[{"selector":"#anim-a76cce5e-c2fb-411a-a525-03cb8e527704","keyframes":{"opacity":[0,1]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a41a3d9c-fcbc-4039-8423-09579553d6fa","keyframes":{"transform":["translate3d(0px, -333.70365%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-29039ad6-b7d5-49a4-8ef1-8262b4908fa1","keyframes":{"opacity":[0,1]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d701bd0c-dc18-46c9-a1d4-3f9cfe72366f","keyframes":{"transform":["translate3d(0px, -827.6765%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-82b33614-b165-4e02-b683-8f9683e8943b","keyframes":{"opacity":[0,1]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4a31beff-3b44-4c36-8559-f1353af28022","keyframes":{"transform":["translate3d(0px, -917.03681%, 0)","translate3d(0px, 0px, 0)"]},"delay":600,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7340f769-0187-4933-a6c5-549d09534b8f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.25669631483779%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-d649d801-2329-45ce-87ab-a18bc088dd7a","keyframes":{"opacity":[0,1]},"delay":1000,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-9a9cef22-5056-4b9e-a8f0-ea2ddb1064cd","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":1000,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] If I have a will, I don’t have to worry about probate.