For many people, estate planning is a bit elusive. You probably know it’s serious, but you may not know what it entails or why it’s so crucial. As such, it’s normal for there to be a few misconceptions around the subject. The following guide helps to clarify some of those myths, so you can better protect your assets and your loved ones. 

3 Myths About Estate Planning, Debunked

1. It’s Only for Rich People

Many people believe estate planning is only necessary for those who plan to pass along a large inheritance. However, that isn’t true. If you have even a few items of great value to you, be they monetary or personal, you need a viable will. Without one, there’s no way to ensure these assets will be distributed according to your wishes after you pass away.

2. Your Social Accounts Won’t Be Affected

In this era, it’s incredibly common for people to have multiple social media accounts. These platforms often house personal memories, private information, and sensitive data. Some people believe these accounts will become inactive after they’re no longer around, but without a proper estate plan, there’s no way to ensure that someone will handle the account properly. However, with the help of an attorney, you can designate a successor to manage and process all of your personal data.

3. Your Family Will Already Know Your Wishes

When it comes to subjects like end-of-life care and funeral arrangements, everyone has a preference. While you may assume your family knows what you want, there’s no way to be sure they’ll remember or follow through with those wishes. Without a viable estate plan, they’ll be left to decide on their own, which may or may not match up with your personal choices. 

If you need help with estate planning, turn to Scott & Heenan LLC in Platteville, WI. With over 50 years of experience, this dedicated legal team has the insight and knowledge needed to ensure your assets and loved ones are well-cared for after you pass. Visit their website for more information on their practice, and call (608) 348-9506 to schedule a consultation today.