Not many people like to think about death, whether their own or that of a loved one. However, when it comes to estate planning in Nevada, it is something that is too important to avoid. An estimated 50 percent of people die without wills, and while there are many possible reasons for this, it is an issue that needs to be addressed.
Experts reason that the biggest factor preventing people from creating a will is simple procrastination. Often, people just avoid thinking about anything emotionally taxing or disagreeable, and thus keep delaying the planning process. Then, even when the individuals themselves are ready to face the issue, family members may not want to discuss it and may actively discourage the conversation, finding it too upsetting or complex to face.
However, no matter the reasons behind the avoidance of estate planning, it is an essential process that needs to be done for the benefit of the individual’s family and loved ones. When a will does not exist, the state gets to determine what goes where and who inherits, regardless of the family’s wishes. In addition, failure to adequately plan can result in assets lost to the payment of estate taxes, with surviving children bearing the brunt of this and suffering major lifestyle changes.
As overwhelming as estate planning and drafting a will may seem, Nevada residents do have many options to help make the entire procedure less stressful. With the advice of attorneys experienced in estate planning, the process will feel less complicated. A skilled attorney can work with the individual to make sure all intentions are laid out according to his or her wishes, and can offer invaluable advice throughout.
Source: sabethaherald.com, “Procrastination Factor – Why we avoid any estate planning“, Bob Schumann, Nov. 14, 2016