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Why Are You Avoiding Estate Planning?

In “Estate Planning in the Time of Corona“, we discussed some of the ways in which estate planning may have changed during the pandemic. While some of the logistics and methods used to execute an estate plan may have changed, the excuses we use to avoid this work may have remained the same—with the added twist that we are also more fearful in general because of the Coronavirus.

Photo by Melinda Gimpel on Unsplash

Some people have been able to spend their time sheltering in place engaging in hobbies and in a more relaxed fashion while others have found an increased pressure to work around the clock. Either way, the importance of having an estate plan remains the same. We can’t break down all of your fears connected to estate planning but we can offer some tips.

In “Three Reasons People Avoid Estate Planning“, a writer for Forbes

“…narrowed it down to these three most common excuses:

Too Busy: I can barely keep up with my life as it is. 

Too Adult: It’s complicated and/or expensive.

Too Superstitious: I don’t want to jinx my life by thinking about death.”

If you are overwhelmed at the thought of doing an entire estate plan on your own, you can get some help from a Fee-Only financial planner

As a beginning step that you can take on your own, you can follow the advice of the Forbes article and either share your passwords or use a password manager to collect your password and find a way to make sure those handling your estate can get the information : “It could be as simple as writing down the location, or the master password, and keeping it with your important papers. Plus, if you ever forget the master password, which happens, you’ll know where to find it.”

As we’ve noted before: password access is a part of estate planning.