Elder law attorneys provide assistance with the estate planning process and with making all of the plans that you need to address end of life issues. Unfortunately, far too many people don’t get help from an attorney when they need to in order to plan ahead for the future. Many people tend to procrastinate about making an estate plan, and while there are understandable reasons why, waiting too long to make your plans can be damaging.
Why People Procrastinate About Estate Planning
There are many reasons why people wait to talk to elder law attorneys about making an incapacity plan, an estate plan, and a legacy plan. Some of the key reasons why people put off estate planning or planning for end of life issues include the following:
- People don’t want to think about a serious illness or death. Thinking ahead about getting sick, seriously hurt, or passing away is not something that anyone wants to spend a lot of time dwelling on. But, if you don’t plan ahead for this situation, it could be worse as there may be no plan in place for your care, for the management of your assets, or for the protection of your property and family.
- People think it’s tempting fate. Many people are afraid if they make a will or an incapacity plan, they’re tempting fate and somehow increasing the likelihood something bad will happen. Instead, you should look upon the estate planning process as simply being prepared for life’s uncertainties.
- People think the process is confusing. There are tons of legal documents and tools you could potentially use to make your plans for your legacy and to be prepared for sickness, injury, or death. It can be complicated to try to navigate through the tools you can use and to try to figure out how to achieve your legacy planning goals. Fortunately, you don’t have to do the estate planning process on your own — there are experienced attorneys ready to help you.
These are just a few of the key reasons why many people don’t make the plans that they should. Unfortunately, if you don’t make an estate plan, you and your family could end up in a very bad situation if something happens to you.
Why You Shouldn’t Wait to Talk with an Elder Law Attorney
While it’s understandable that you may not want to jump into the estate planning process, you can cause yourself and your family a lot of hardship and sometimes a lot of financial loss if you wait too long to put plans in place.
- If you have no incapacity plan when you become incapacitated, your loved ones may need to go to court to get a guardian or conservator appointed and your assets could be reduced in value by neglect until the guardian is appointed or by mismanagement if the wrong guardian is chosen.
- If you have no nursing home plan, you may be unable to qualify for Medicaid to pay for nursing home care, which is a big problem since Medicaid is often the only kind of insurance coverage that pays for the nursing home care many seniors require.
- If you have made no estate plan, your estate could end up with a big tax bill that substantially reduces the value of an inheritance left to loved ones.
You don’t want to be left without plans that are necessary to protect your family, assets, or autonomy. You should work with elder law attorneys as soon as you can to make the right plans you need in case you get sick or in case you pass away.
Getting Help from Elder Law Attorneys
If you live in or around Michigan’s shoreline communities, you don’t have to wait any longer — you can call Biddinger & Estelle today to get the assistance you need with the estate planning process. Our legal team will make it easy for you to plan ahead for end of life issues and will work with you to effectively use legal tools to protect your family and legacy. To find out more about how our firm can help you, give us a call at (989) 872-5601 or contact us online today.