Entertainment industry reinforces the myth that estate planning is only for the wealthy.
The entertainment industry feeds a myth that only wealthy people need to do estate planning, with a constant flow of scenes where the wealthy are the only ones planning. But that is not the truth, according to the Financial Advisor in “Estate Planning Is Not Just For the Ultra-Rich Anymore.”
Estate planning is something that everyone can benefit from, no matter how much they have. You do not need to be a Rockefeller to plan your estate.
If you want to have any say in who gets your property after you pass away, no matter how little or how much that is, then estate planning is the way you can have that say.
In fact, it is the only way you can have it.
Estate planning today also includes planning for your end-of-life care. For example, when planning your estate, you can also plan for what medical procedures doctors can perform to save your life.
Do not buy the myth that you do not need to plan for your estate because you are not rich.
An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances.
Reference: Financial Advisor (August 3, 2017) “Estate Planning Is Not Just For the Ultra-Rich Anymore.”