Most people want to put off any conversations or tasks related to their own immortality or potential incapacity. While this is a natural response for plenty of people, it’s a dangerous one that could leave you or your loved ones at risk of facing unnecessary challenges. Last minute estate planning puts you and your loved ones in a difficult situation.
Proper planning requires time and thorough review of all of the assets, your family situation, your current tax implications, your method of holding property, and many other contingencies that could arise. The most difficult aspect of any comprehensive estate planning process is an analysis of the assets and the needs of the person creating the plan. This is impossible with last minute planning.
There are also many other dangers present with the process of last-minute estate planning, including:
• Potential problems with undue influence.
• Claims lodged after the fact that the deceased person was not in their right mind at the time they made these documents.
• Concerns over the emotional condition of the testator as it can be emotionally draining in addition to facing medication and illness related complications.
• Finally, family dynamics become that much more complex when a testator is under pressure to do last minute estate planning.
Schedule a consultation today with an experienced estate planning lawyer to learn more about how you can avoid these challenges. At our MA estate planning office, you’ll work with a lawyer to create a plan in line with your personal goals.
