When Jennifer Norton speaks at community events, she often encounters people who have heard myths about estate planning that hold them back from taking action. One such person was Mike, a local business owner who attended one of Jennifer’s estate planning seminars.
“I don’t need an estate plan,” Mike had said with a shrug when Jennifer asked if he had one. “I’m not rich, and I’m still young.”
But as Jennifer explained to the group, these common myths about estate planning could leave families vulnerable. “Estate planning isn’t just for the wealthy,” she began. “It’s for anyone who wants to make sure their assets are protected and their family is cared for.”
Jennifer debunked the most common myths that day:
- Myth 1: Estate planning is only for the wealthy.
Many people, like Mike, believe that estate planning is something only millionaires need. But Jennifer explained that estate planning is for anyone who owns property, has savings, or has a family to protect. It’s about ensuring that your wishes are followed, no matter the size of your estate. - Myth 2: I’m too young for an estate plan.
Mike, like many others, assumed that estate planning was something to think about in old age. But Jennifer shared stories of families left in chaos after a sudden illness or accident. “Estate planning is about being prepared,” she told him. “It’s not just for the elderly.” - Myth 3: Once I make a plan, I’m done.
Jennifer emphasized that estate planning isn’t a one-time task. Life changes, laws evolve, and your plan should, too. She urged the audience to review their plans regularly to make sure they still fit their current situation.
After the event, Mike approached Jennifer, ready to take the next step. “You’ve convinced me,” he said. “I don’t want to leave things to chance.”
Estate planning myths can prevent people from taking action, but with the right information, you can protect your family and your legacy. This Halloween season, don’t let myths scare you away from planning for the future. Request a free consultation today here or attend one of Jennifer’s local events to learn more.
