There are many myths and misconceptions in relation to Estate Planning. Have you stopped to think about whether there is any truth to any of them?
Estate Planning Myth #3: Only old people need to think about estate planning.
Not at all. Life can change very quickly, no matter how old you are… And this isn’t just confined to unfortunate events such as illness, accidents and death. You might suddenly acquire an amount of money, your business venture might take off, you might have a decent wage and a pension, you might buy a house – these are all assets. They need to be protected in case you become ill or die.
Our injury solicitors know all too well what can happen – they see it every day . If you are in a long term relationship, have children or other responsibilities then you need to make sure there is provision for you as well as those you want to look after
Putting a plan in place is the best thing you can do for yourself and your loved ones. You can change it over time and this is something people often do not realise. It is not set in stone and can be altered or amended at any time if your circumstances change. You never know when a good estate plan might be the best thing you ever did!
View more Estate Planning Myth Busters in our Blog