ISN’T IT TRUE THAT ONLY THE VERY WEALTHY CAN AFFORD ESTATE PLANNING?
Absolutely not. While the cost of formulating and implementing an estate plan with assistance of an attorney varies with the complexity of the plan, the peace of mind that comes with the knowledge that you have considered and planned for the future is well worth the cost. In addition, the potential costs that may be incurred if you do not have an estate plan in place at the time of your death or your incapacity could be very significant compared to the cost of planning ahead. For example, if you become incapacitated and have not executed a power of attorney, your family may be forced to ask the court to name a guardian to manage your assets. Your family may also become parties to a lawsuit over the type of medical care you should receive if you have not appointed a healthcare agent or signed a living will. Finally, disputes could also arise over the distribution of your assets upon your death. Litigation is very costly, both monetarily and emotionally. Even without litigation, the cost
