Jun 3, 2015 | By Massingill Staff | Read Time: 2 minutes | Estate Planning

Lame Excuses for Not Devising a Comprehensive Estate Plan

Most people don’t spend much time thinking about planning their estate.  It’s complex, daunting, and quite boring.  (Editors’ Note: We actually find estate planning incredibly fascinating!  But we understand that’s not normal.) Here are some of the top excuses people make for not devising an effective estate plan… Estate planning is for wealthy people. This is a common misconception that we’ve discussed before. Estate planning is too expensive. Many people think they can’t afford to make a will when, in reality, they can’t afford not to.  Estate planning is an important investment that can pay major dividends to your family and loved ones in the event of your death.  Let us show you how affordable estate planning can be in the Cedar Park, Leander, Round Rock and Georgetown areas. Estate planning is complex and takes too much time and effort. In truth, drafting effective estate planning documents can be extraordinarily complex.   But from a client’s perspective, the process is quick and painless because we do the heavy lifting.   You make the decisions while we do the legwork. I don’t want to think about dying. Nobody does.  But estate planning is for the living, not the dead.  In the event of your death, what would happen to your children and/or pets?  Will your loved ones be forced to spend countless hours in probate court?  There are countless reasons to plan for the future. Estate planning is too invasive.  I don’t want to reveal my private information. Trust is the hallmark of the client-lawyer relationship, and we are bound by law to keep your information confidential.  We take your privacy seriously. Planning for the future is a wise decision, and can be surprisingly easy and inexpensive.  If you’re looking for a rock-solid, affordable estate plan in the Cedar Park, Leander, Round Rock, or Georgetown area, contact us today.

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Jun 1, 2015 | By Massingill Staff | Read Time: 2 minutes | Estate Planning

Do I need an estate plan even if I’m not wealthy?

A common misconception is that estate planning is only for wealthy people.  In reality, there are a multitude of reasons for ordinary people have an effective will.  Let’s consider a hypothetical example. Anna is a secretary who lives in Cedar Park and works in Leander, earning $40,000 per year.  She is 29 years old, married, and has two daughters.  Here are some reasons Anna should consider planning her estate: Anna’s estate may be small now, but could be quite large by the time she actually dies.  Most of us begin with small estates that grow larger over time.  Over the years, small pay increases, investment income, and sporadic windfalls begin to add up.  If your estate is growing, even slowly, now may be the perfect time to prepare an estate plan.  Furthermore, it is possible for the size of Anna’s estate to increase after her death if she dies in a manner that gives her estate a winnable survival action against a third party (a drunk driver, for example). Anna may want to nominate a guardian to care for her minor children.  Estate planning is about more than just money.  If you have minor children, who would control their personal and financial affairs in the event of your death?  If, like most parents, Anna believes that she knows better than the court system who should care for her children, she needs a will. Under certain circumstances, Anna’s spouse’s right to deal with her property may be subject to the claims of children if she dies without a valid will. Interested in an affordable estate planning attorney in the Cedar Park, Leander, Round Rock or Georgetown area?  Contact us today.

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