Orland Park, Illinois, United States - April 22, 2022 —
Trying to avoid thinking about their own death could be a significant reason why most people fail to plan their estate, disclosed Elder Law and Estate Planning Attorney Michael T. Huguelet.
For more information please visit https://www.hugueletlaw.com
In an interview, the founder of the Law Office of Michael T. Huguelet, P.C. in Orland Park, IL, highlighted several reasons people put their estate planning on the back burner until it's too late.
He emphasized that the consequences of not leaving a will may only add to the confusion and frustration of a person's grieving loved ones, as they would be left to pick up the pieces without any clear instructions from their deceased loved one.
"Assets and property that are not protected in an estate plan after someone passes away are sent to probate," he explained. "This means it's up to a court using state law, instead of your wishes, that decides what happens to those possessions."
He warned that probate would burden loved ones and children with more paperwork, higher legal fees, and potentially drawn-out court cases.
A study from Rocket Lawyer, cited by Huguelet, found that more than half of Americans aged 55-64 don't have a will. Of those questioned, 57% had intentions to make a will but hadn't gotten around to it; 22% thought setting one up wasn't urgent, and 17% didn't feel they needed one.
"Most people tend to avoid it because it involves them thinking about their own death," he commented. "However, having their affairs in order greatly helps their loved ones once they've passed away."
This also applies when a person becomes incapacitated, either by illness or serious injury, and can no longer make decisions independently. An estate plan should include life documents like a health care directive and a durable power of attorney.
"These documents help guide a guardian or an executor to make financial and healthcare decisions in your best interests," said Huguelet. "Not having your wishes in writing can often lead to further confusion and wrong decisions being made."
Huguelet addressed the misconception that people don't need a will if they don't have an estate. "If you have a house and children, no matter your marital status, you need a will. Every family is different and has its own set of particular circumstances that should be addressed in an estate plan," he concluded.
source: http://RecommendedExperts.biz
Contact Info:
Name: Michael T. Huguelet
Email: Send Email
Organization: Law Office of Michael T. Huguelet, PC
Address: 10723 W. 159th St. Orland Park, IL 60467
Phone: (708) 852-0733
Website: https://www.hugueletlaw.com
Release ID: 89073414
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