The Legacy Threat: The Dangers of Inertia and Shortcuts in Estate Planning
The Legacy Threat: Understanding the RisksEstate planning is often a topic that many people put off, perhaps due to the discomfort of discussing one's own mortality or simply procrastination. However, avoiding or taking shortcuts in estate planning can have serious consequences that jeopardize the legacy you leave behind for your loved ones. In this guide, we'll explore the risks associated with inertia and shortcuts in estate planning and why it's essential to take action to protect your legacy.
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The Consequences of Dying Without a Will
One of the most significant threats to your legacy is dying without a will, a situation known as dying "intestate." In such cases, state laws determine how your assets are distributed, which may not align with your wishes. Loved ones could be left in a contentious legal battle, and the legacy you envisioned may never come to fruition.
The Dangers of Online or DIY Wills
In the digital age, many turn to online or do-it-yourself (DIY) wills as a quick and convenient solution. However, these shortcuts can backfire. Online wills may not adhere to the specific legal requirements of your state, rendering them invalid. Even small errors or omissions in a DIY will can lead to disputes and legal challenges. Your legacy deserves better than an online form that may not fully address your unique needs and circumstances.
Why Procrastination is Common
Procrastination in estate planning is a common phenomenon. The reasons vary, but they often include fear of confronting mortality, lack of understanding about the process, or simply thinking there's plenty of time. However, life can be unpredictable, and failing to plan can leave your loved ones in a difficult situation. Overcoming procrastination is crucial for securing your legacy.
Getting Started Is Easier Than You Think
The good news is that estate planning doesn't have to be overwhelming or complex. With the help of an experienced estate planning firm, you can navigate the process smoothly. An attorney can guide you through the intricacies, ensuring that your wishes are legally documented, your loved ones are protected, and your legacy is preserved.
Conclusion
Inertia and shortcuts in estate planning can be significant threats to the legacy you leave behind. By taking proactive steps, such as creating a valid will with the assistance of professionals, you can ensure that your wishes are honored and your loved ones are provided for. Don't let procrastination or shortcuts jeopardize the legacy you've worked hard to build.
Meet Our Estate Planning Lawyers
Emily Smith-Lee is the owner and founder of slnlaw. She is a 1996 graduate of Boston College Law School. She was previously a partner at the Boston office of a large international firm, where she worked for thirteen years before starting the firm that became slnlaw in 2009. She has been recognized as Massachusetts Superlawyer each year since 2013, and in 2018 earned recognition as one of Massachusetts Lawyers Weekly's Lawyers of the Year.
Jenna Ordway: Jenna is a 2013 graduate of Quinnipiac Law School, and also earned an LLM in Taxation from Boston University in 2015. She has been affiliated with slnlaw since 2011, first as a law clerk and then as an attorney. Jenna has been recognized since 2019 as a "Rising Star" by Massachusetts Superlawyers. Jenna wrote a book on estate planning: The Road to Peace of Mind: What You Need to Know About Estate Planning. Jenna has helped many individuals and families with planning to protect their legacies and loved ones, and planning for the future and succession of their businesses.
Sharleen Tinnin: Sharleen is a 2010 graduate of Northeastern University School of Law, and earned her LLM in estate planning from Western New England Scool of Law in 2016. She has been with slnlaw since 2023. Prior to joining slnlaw, she worked with King, Tilden, McEttrick & Brink, P.C. on complex civil litigation matters. She previously worked for the United States Department of Justice, and received an "Excellence in Justice" award in 2017. Sharleen has helped many clients with planning for their legacies and their future, and navigating the probate process in Massachusetts after the death of a loved one.
How We Can Help
Our experienced estate planning firm ensures your legacy is protected from the risks of incomplete or online or DIY wills. Start securing your family's future with us. You can use the button below to schedule a free information call, or simply give us a call at 781-784-2322.
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