Few people want to consider the fact that they are going to die someday. This often causes them to procrastinate when it comes to estate planning. In fact, nearly 50 percent of people here in the United States — including many here in Delaware — die without even a will.
This happens even when people might logically know that the probate process will be more complicated for their loved ones without an estate plan. The fact of the matter is that procrastination is the enemy of estate planning. The reasons that people put it off vary, but for many there is a common thread.
Some individuals might believe that by facing their own mortality, they are somehow tempting fate. Moreover, estate planning can bring up family issues that many individuals would rather not consider such as loyalty, strained relationships and giving the impression that they value one person over another. Still others avoid creating a plan because they need the input of family members who do not want to discuss the matter. The problem with allowing these excuses to delay the process is that it puts family members in jeopardy of not being properly taken care of after death.
To get through the unpleasantness of the conversations that will need to take place, estate planning can be likened to an insurance policy. For example, purchasing auto insurance does not make many people believe that they are going to be involved in an accident. Creating an estate plan can be thought of in the same way because it provides reassurance to Delaware residents and their loved ones that their heirs will be taken care of when they pass away.
Source: sabethaherald.com, “Procrastination Factor — Why we avoid any estate planning”, Bob Schumann, Nov. 14, 2016