When David and Susan first heard about estate planning, they thought it wasn’t something they needed to worry about. They were in their early 40s, living in the St. Louis suburbs, and believed estate planning was only for the elderly or the wealthy. But after attending a workshop with Polaris Estate Planning & Elder Law, they quickly realized how wrong they had been.
“Estate planning isn’t for us,” David had said at the start of the workshop. “We don’t have millions of dollars or a complicated financial situation.”
But as they listened to the presentation, David and Susan realized that estate planning wasn’t just for the wealthy—it was for anyone who wanted to protect their family.
During the workshop, Polaris debunked several myths about estate planning that David and Susan had believed:
- Myth 1: Estate planning is only for the wealthy.
Polaris explained that estate planning is important for everyone, regardless of the size of their estate. It’s about ensuring that your family is cared for and your assets are distributed according to your wishes. - Myth 2: Estate planning can wait until we’re older.
Like many people, David and Susan thought estate planning was something to do later in life. But Polaris emphasized the importance of planning early, especially for families with young children. Estate planning ensures that your children are cared for if the unexpected happens. - Myth 3: Once we have a will, we’re done.
Polaris explained that while a will is a great start, it’s only one piece of the puzzle. Powers of attorney, advance directives, and trusts are also important parts of a complete estate plan. And as life changes, your estate plan should be updated to reflect those changes.
By the end of the workshop, David and Susan were ready to take action. They met with Polaris and set up their estate plan, ensuring their children and assets would be protected no matter what the future held.
Don’t let myths about estate planning stop you from protecting your family. Request a free consultation today here or attend one of Polaris’s workshops to learn more about securing your legacy.