How to Stop Procrastinating your Pocatello Estate Planning
Our Pocatello Estate Planning Attorneys have helped thousands of individuals and couples complete their estate planning. Through our years of experience we have come to know that most people procrastinate getting it done for 3 main reasons. Over the years we have also come to know that we can help our clients overcome their concerns and reasons for procrastinating. We are confident that we can help you too.
Our goal is to help you understand how your Pocatello Estate Plan will help you and your family, not only when you die, but also while you are alive. Our partners Randy Budge and Lane Erickson, and our attorneys Nathan Palmer and Dave Bagley create our knowledgeable and experienced Pocatello Estate Planning team. We are ready to help you by providing a free 30 minute consultation to answer your questions and provide you with a better understanding of how an estate plan can protect you.
To get started, we have found that most people procrastinate for one of three reasons.1. Too Young to Need Estate Planning
One of the biggest reasons our clients say they have procrastinated is that they feel they are too young to need an Estate Plan. We believe that when a person fully understands how an estate plan can help them and their loved ones this reason evaporates. In Idaho, like in most states, a person is considered to be an adult when they are 18 or older. We believe that every adult needs and should complete their estate planning.
The most important thing to understand is that estate planning is not just about giving your stuff away when you die. It’s more important function is to provide protection for you and your family during your lifetime, and to provide for your loved ones after you are gone. Consider this, as an adult, if you suffer an injury or an illness that disables you, so that you can no longer take care of yourself, or your finances and property, the Court will be forced to name a legal guardian who will do these things for you. Obtaining a legal guardianship can be expensive, time consuming and often leads to fights within a family who cannot agree on who the Court should appoint. A vital function of your plan is to allow you to name the people who will care for you and take care of your finances and property during your lifetime if you become unable to. Essentially your plan gives you control over your own future.
Likewise many young people have a family of their own. When a person has young children, a complete estate plan provides a way for that person to name a Guardian for their young children. By naming a person as a Guardian a person virtually eliminates any chances of their families fighting over who should care for the children. Additionally, a well prepared estate plan will provide financially as well. This gives a person the ability to ensure that their children can get an education, and proper health care, as well as having their basic needs met.
So if you are concerned that you are too young to complete your estate planning, schedule a free 30-minute consultation with us. We will be happy to explain in more detail how you and your family can be better protected during your lifetime, as well as after you die.2. Not Enough Money or Assets to Need Estate Planning
The second biggest reason we’ve found that most people procrastinate getting their estate plan completed is that they believe they don’t own enough money or assets. We’ve come to learn that most people hold to a false belief that estate planning is really only helpful for rich people. While it is true that rich people can benefit, the same is true for the rest of us too. As we described above, everyone needs to plan for their own life needs, potential health care needs, and for their spouse and young children. The most basic truth that can be stated is that estate planning provides for and protects the living. This could include you if you suffer from an illness or injury that leaves you disabled. It could be your spouse or children. Or it could be your young children. Regardless of who it is, there will be some living person whose life will be made easier as a result of your having a complete estate plan.3. Estate Planning is Too Expensive
The final reason we often hear from people as an excuse for procrastination is that it is just too expensive. Our experiences with clients shows us that it is actually less expensive than not having one.
The powers of attorney provide a good deal of protection for you during your life, and ultimately can save you money. In Idaho every adult has a legal right to take care of and make decisions about their finances, property, and healthcare. However, as described above, if an injury or illness disables you, and you are no longer able to make your own decisions, a Court will appoint a legal guardian to make these decisions for you.
A guardianship proceeding requires petitions to be filed with the court. A minimum of two attorneys will be involved. Witness testimony from family members, friends and health care and medical providers is usually obtained in a formal Court hearing. The Court obtains evidence from all of these sources before a decision is made about who the legal guardian will be. Even when things go smoothly and everyone agrees, it will easily 2 to 3 times more to obtain a guardianship than it costs to complete a simple estate plan. When the family disagrees or when they fight about who should be the guardian, the legal costs could easily be serval thousand dollars.
Our goal in meeting with and helping our clients is to provide the most complete estate plan possible, for a flat fee price. We would be happy to meet with you for a free 30-minute consultation to see if we can help you.Enlist an Idaho Estate Planning Attorney to Help You
Our knowledgeable Estate Planning attorneys in Pocatello are here to help you and your family. We can give you a better understanding of how we can help you during your life. We are available to discuss your options and answer your questions at an initial free 30-minute consultation. Call us toll free at 877-232-6101 or 208-232-6101 to schedule your free consultation with the Racine Olson team of Estate Planning attorneys in Pocatello. You can also email us directly at firstname.lastname@example.org. We will answer your questions and help you solve your Pocatello Estate Planning problems.