Why do we dodge a decision on estate planning?
- Drawing up an estate plan means deciding who gets which asset from your estate.
Making informed, unbiased decisions is paramount, yet often, our fears, comforts, and biases sway us away from crucial planning. Take, for instance, the choice between a London holiday and designing an estate plan: most people would opt for the former to evade the difficult decisions and complexities of estate planning. An estate plan is about the preservation and distribution of your wealth to loved ones during and after your lifetime, ensuring that your assets are passed down in accordance with your wishes while minimizing legal complications. Despite its significance, many fail to accord it the importance it deserves. Let’s explore the reasons behind this reluctance.