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3 Lies People Tell Themselves About Estate Planning

People tend to avoid estate planning like it’s the plague, but no financial plan can be complete without one. Sure, thinking about your own demise doesn’t rate high on the “fun scale,” but not everything in life does.

To delay or get out of estate planning, people tell themselves all sorts of lies, such as “If I make a Will, I’m going to die.” I suppose that’s not really a lie. If you create a Will, you will die. But it’s also true that you will die if you don’t create a Will and do no estate planning. The difference is that in the latter scenario, where you die without an estate plan, your final wishes may not be carried out, you may leave loved ones confused at to how to handle things, and you dramatically increase the chance for in-fighting among family members.

Here are three other lies people frequently tell themselves to delay, or avoid estate planning altogether. In your natural tendency to want to avoid contemplating your own demise, don’t convince yourself that they’re true.

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