A surprising percentage of Americans do not have an estate plan in place. This is a figure that will fluctuate, but about half of the people in the United States are going through life without any estate planning documents.
A lot of people recognize the fact that they should have an estate plan in place but they simply procrastinate with regard to the matter. Let’s face it, thinking about passing away is probably on the bottom of your to-do list and it is understandable that you may think that you will have time to plan for it at a later date.
However, every one of us is going to die someday and you never know when that day will come. Every year tens of thousands of people under the age of 50 pass away so when you go through life without an estate plan you are really taking a gamble and it is your family being put at risk.
Since procrastination is so common, a failure to make ongoing adjustments is also a problem. Things in your life may change and make your existing estate plan obsolete, and there are societal changes that can call for revisions to your current plan.
The wise course of action is to schedule regular estate plan reviews so that your plan always reflects your current family dynamic and your current wishes. If you would like to arrange such a review, take action right now and contact a good your local Estate Planning lawyer in Northern Kentucky or Ashland, Kentucky, to set up an appointment.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
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