Abatement, Ademption, Administrator, Beneficiaries, Beneficiary, Court Appointed Administrator, decedent, estate, Estate Planning, Executor, Guardian, Intestacy, Intestacy Laws, Intestate, Judge, probate, Tax Authorities, valid will, Will
Presently, apathy towards estate planning is commonly brought on by perceptions people have about estate planning. Recently, during conversations about estate planning, the following perceptions surfaced:
- Planning for your death is too morbid.
- Estate planning is boring.
- Estate planning involves a lot of work in which I have no time for.
Unfortunately, these negative perceptions lead to apathy that result in the following consequences concerning estate planning:
- Some people will procrastinate for such a long time that estate planning is completely forgotten. As a result, their estate will fall into intestacy when they perish.
- People will create a sloppy estate plan just to get through a process they detest. As a result, complications will arise that will confuse the executor and the beneficiaries.
Although there are people who take estate planning seriously, there are plenty of people who are apathetic. Thus, apathy towards estate planning can lead to adverse consequences for the executor and for the beneficiaries of the deceased.