Why People Delay Estate Planning--Your Thoughts

Recently, in discussions with several professional groups, we have addressed the increase in people putting off their planning. In our discussions several reasons for this negative development were raised. Things like:

1. Why bother?
2. My estate isn't big enough.
3. The estate tax exemption now protects me.

There are other reasons, but these seem prevalent. As you can imagine, reasons such as these have no validity, but do prevent people from protecting their families. In my town of Castle Rock, CO, I am the only full-time estate planning attorney. Helping folks work through these issues is very important and I would like to hear what you think.

What are your thoughts about these issues? Do you think these reasons are valid? What did you focus on when you decided to proceed with your estate plan? How do you suggest to people the importance and need for estate planning?

Studies show that people will spend more time and money every year on a vacation then they will ever spend on their own estate planning. Given how important it is to protect family.

I look forward to your thoughts and comments. Thank you.

Bernie Greenberg