At Hathaway Sprague Law, P.A., in Florida, we understand that having an estate plan in place is extremely important before one passes away and leaves those they love behind. However, some people do not realize how crucial having a will or a trust is, and others may have the wrong mindset in terms of how they approach the estate planning process. For example, some people may not understand how necessary it is to set up an estate plan properly, while others may even have negative feelings (such as anxiety or depression) that inhibit their ability to create an effective and comprehensive estate plan.
If you are preparing to set up an estate plan, you need to have the right attitude. Aside from the various ways in which an estate plan could benefit you, especially from an emotional viewpoint, you should also think about how this will affect the lives of those you love down the road. You may be able to reduce some of your stress and uncertainty by having a thorough estate plan. You may also be able to make a significant impact in the lives of your family members by setting up the management and distribution of your estate for your beneficiaries.
Sometimes, people who want to set up an estate plan are dealing with various struggles in life, such as the death of a loved one or job-related challenges. These hardships can get in the way of the estate planning process, and it may be sensible to wait a bit. However, you should not push off your estate plan for too long, especially if you are prone to procrastination. You can break down the estate planning process into smaller pieces and work through it step by step.
There is more information about effective estate planning on our webpage.