There is an old adage that says there are two constants in life — death and taxes. No Arkansas resident really wants to focus on either, especially the end of life, but it’s important to give pause to think of family members left behind who would appreciate the time taken by their loved ones who cared enough to do some estate planning. It might not be something people enjoy doing, but it’s an integral part of caring for who will be grieving the loved one.
Thinking about dying is probably the number one roadblock to estate planning. It’s followed closely by the belief of many who think writing an estate plan will result in a loss of control over the assets and their finances, which isn’t so. As long as a testator is alive, it’s possible to maintain control of his or her personal and financial affairs. Some people also fear that estate planning will be expensive, but it needn’t be. Caring for others who are left behind is worth the fee of getting help with a comprehensive estate plan — the cost comes at the hands of loved ones whose family member dies without having anything in place.
Making what are often tough decisions may also dissuade some people from writing their wills and having other documents in place. A testator needs to decide who will get what when he or she dies. Most people want to be fair and don’t wish to cause anxiety and fighting among their loved ones, so they do nothing at all which, ironically, might cause even more strife.
Arkansas residents who have been thinking about estate planning might wish to consult an experienced attorney. He or she can sit down with a client and review his or her particular life situation and recommend what the client’s estate plan should look like. Talking with a lawyer may allay some of the trepidation some people have about putting an estate plan in place.