Myth #1: “Estate Planning is only for the very rich or old.”
False! You don’t need to be rich or old to start planning. That’s because estate planning is for anyone who may pass away or get really sick. And that can happen to anyone! Estate planning is about making sure that someone can manage your finances if you’re incapacitated, your health care wishes are carried out, your kids are taken care of and that your property goes to the right people.
Myth #2: “Estate Planning is too expensive.”
False! In fact, exactly the opposite is true. In the long run, good estate planning saves both time and money. Without an estate plan, your loved ones may have to deal with confusion, undue financial hardship and family drama, in addition to probate, which can cost a lot more than your initial investment in an estate plan. Attorney Myrna Serrano Setty’s estate plans are budget friendly because she works with her clients to figure out what works for them, like cash, credit or a payment plan.
Myth #3: “I don’t need a Living Will because my family will “do the right thing.”
False! If you’re sick and dying and unable to communicate, your loved ones need to know exactly where you stand on end of life issues. What does “do the right thing” even mean? We all hear terms like “extreme measures,” “life support,” and “ventilator” – but what does that stuff really mean and do you understand it well enough to explain your wishes? Don’t burden your loved ones with trying to figure out what “do the right thing” means to you.