TOP Estate Planning MYTHS

• Having a will is the same as having an Estate Plan. 
  • FALSE - ​A will is just one essential piece of an effective Estate Plan.
• Only wealthy people need Estate Planning.
  • ​FALSE - Regardless of income level, Estate Planning is important for everyone. An effective Estate Plan is not only designed to protect assets. It's designed to protect you, your family, your home, etc., and puts you in control of how decisions should be made if you are no longer able to make them for yourself or after you die.
• Only people with children need Estate Planning.
  • ​FALSE - While child guardianship and providing for children financially is involved in the planning for some people, there are many considerations that go into Estate Planning beyond that.
• Only people who own a home need Estate Planning.
  • ​FALSE - There are many considerations that go into Estate Planning beyond just those relating to how property and other assets are passed on.
• The Estate Planning process is lengthy and complicated.
  • ​FALSE - While the timing can depend upon the complexity of your planning, the team at The Knee Law Firm, Ltd. works with clients to keep things on track from beginning to end in a matter of weeks.
• Estate Planning is only helpful after you pass away.
  • ​FALSE - Effective estate planning allows you to make decisions on how to handle things while you are here, as well as for when you die. If you can no longer manage your affairs, or no longer wish to, your plan assigns someone who can step in. It's a way to protect you and your loved ones today and into the future.
• You don’t need Estate Planning if you’re young & single.
  • ​FALSE - It's a good idea for anyone who is single (and over 18 years old) to assign trusted individuals to handle their property and healthcare decisions in the event they are unable to. Effective planning can do that, as well as so much more.
• Estate Planning is too expensive and not worth it.
  • ​FALSE - Effective Estate Planning can actually SAVE your loved ones money AND stress by helping to avoid probate hassles and costs, and by providing a road map of your wishes.

​Connect with us to find out why an effective Estate Plan is important for everyone.

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