Estate Planning Attorney Jennifer Elliott Reveals Why Delaying Estate Planning Hurts Your Loved Ones – San Clemente, CA

Top estate planning attorney Jennifer Elliot, founder of San Clemente Estate Law, PC in San Clemente, CA, explains to listeners why people tend to put off estate planning and how it could harm loved ones. For more information please visit https://sanclementeestatelaw.com

San Clemente, CA, United States – December 27, 2020 /MM-REB/ —

In a recent podcast episode, top estate planning attorney Jennifer Elliot, founder of San Clemente Estate Law, PC in San Clemente, CA, revealed to listeners why people tend to put off estate planning and how doing so could be harmful to loved ones.

For more information please visit https://sanclementeestatelaw.com

When asked for a comment, she said, “One of the reasons people put estate planning off is because it requires making really tough decisions. However, the harm in ignoring this is that there is no plan, and that’s where the state comes in and has a plan for you.”

One of the major reasons people procrastinate on putting their estate plan in place is because they believe they are relinquishing control.

“People are afraid that if they put down their wishes in a Will or Trust that they are giving up control to another person like an executor or a trustee. But it’s exactly the opposite. Having those plans in place and designating the people that you trust to handle things is like giving the people the keys to the ‘Lockbox’ that controls all of the assets you’ve accumulated during your life.”

People may be hesitant to set up an estate plan because they might be unsure who to trust to handle their estate.

“Some people are unsure, for instance, which one of their children they should assign as the trustee of a plan, which is a tough choice for many. What I can do for them is talk to them about the duties of the trustee to a ‘Lockbox’, and then after I educate them about what tasks are required, they are better able to decide.”

Elliott was quick to add that it’s possible to name people other than the children as trustees to keep that decision out of the family, which will allow the siblings to maintain a good relationship after the parents have died.

The idea of confronting death is often too uncomfortable for many to face.

“When you do your planning with your estate attorney, you are facing really tough decisions about death and what happens when you’re no longer around. So it’s understandable why they delay setting up a plan, however the peace of mind they get takes away all that fear and gives them power back.”

According to Elliott, without having a proper plan in place, the wrong people, such as an untrustworthy family member or the state government, could get the keys to an estate.

When asked for an example, she said, “In one case, a man did not want his child – who he had not had a relationship with – to inherit his assets. However, the man died with no Will and no Trust, so his wife was forced to file an action in probate court. This child got one-third of his house against his wishes. Not having a plan in place allowed the state of California to step in and give that child one-third of his house.”

Source: http://RecommendedExperts.biz

Contact Info:
Name: Jennifer Elliott
Email: Send Email
Organization: San Clemente Estate Law, P.C.
Address: 100 S Ola Vista Suite A, San Clemente, CA 92672
Phone: (949) 420-0025
Website: https://sanclementeestatelaw.com

Source: MM-REB

Release ID: 88990613