Many people believe that estate plans are only for the wealthy and well-to-do.
This is another common estate planning myth. More than 60% of all Americans die without an estate plan, leaving their state’s intestacy laws to determine who will inherit their property. Intestacy laws may also determine who will act as guardian of your minor children. These laws do not consider personal circumstances or personalities, so your property and/or minor children can end up with a relative who you never would have chosen.
Regardless of the size or value of your estate, peace of mind comes in having a thoughtfully and professionally prepared estate plan, even if it is a simple will.