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Estate planning is definitely evolving

On Behalf of | May 14, 2021 | Estate Planning

There is nothing boring about writing an estate plan. True, change in estate planning has been slow in coming, but Colorado residents should know that the winds of change are blowing – especially when it comes to education and awareness of the importance of having a comprehensive estate plan. Over the years, the stigma that estate planning is only for the wealthy has all but diminished, and most people these days understand that an estate plan is for everyone who wants to protect themselves and their loved ones.

Changing people’s views

Most of the education comes in the form of changing people’s opinions about writing an estate plan. Here are the key elements to note for change to continue to be ongoing:

  • Estate planning is affordable
  • It is essential
  • It is empowering
  • It is within reach financially
  • It is a responsibility

So really, any adult with a job, who is a parent, who owns real estate or who has any assets, should have an estate plan.

Some things are inevitable

The old saying goes, “once we are born, we begin to die.” Although death is not a subject easily broached by many people, it is necessary to talk about it and to plan for it if one wants to ensure loved ones are taken care of once it happens. Experts suggest this may be one of the main reasons estate planning has been so slow to progress. Inaccuracies about the process could also have contributed it to being something people look upon as the last thing they want to spend time doing.

There are so many reasons why Colorado residents need to think about estate planning. A major one is to ensure the long-term financial stability of any children a testator has. Having a well-rounded and complete estate plan is well worth the effort.