Estate planning can go smoothly or there can be many bumps in the road. It all depends on your situation and what you want to happen. It also larger depends on your attitude about the process. If you have misconceptions in your head about estate planning in Pennsylvania, then you may end up having a harder time at it than if you go into the process with an open mind. Forbes explains there are a few common things people may tell themselves about planning their estate that could put kinks in the process. So, make sure you are not of the same mindset.
You may think you do not need to do any type of updates to your estate plan because everything in your life is the same. While it may be true that nothing has changed within your personal life, that does not mean changes have not happened. There are often changes to tax laws or other laws that could affect your estate. In addition, your assets may have changed, at least in value.
You do not need a will if you do not have assets is a common belief. This is not true because a will is for much more than deciding who gets what after you die. It can also provide details on who will take care of your children or pets, along with covering your desires about your final wishes, such as if you want cremation or burial.
Do not let misunderstandings keep you from getting the most out of estate planning. Instead, get things in order and keep them updated. This information is for education and is not legal advice.