I Don’t Have a Will Because… Reason #1

Estate Planning Myths – Part 1Reason #1: I Don’t Have the Time

Nearly 70% of adults have not done their Wills and do not have any planning in place. Seventy percent! Think about that.

I was curious why that number was so high. So, I did a super informal, highly unscientific survey to see if I could glean anything. I was amazed at the results!

Pretty much every answer I received fell into one of three buckets. The really crazy part is that all three reasons are FALSE! False beliefs are keeping people from making sure their families are protected, no matter what and no matter when.

I thought for sure the biggest reason people would give for not doing their planning was that they didn’t know they should or didn’t think it was important. But no. Everyone who answered seemed to know they should do some kind of planning, even if just a simple Will, Durable Power of Attorney and Health Care Proxy.

The number one reason, Reason #1, cited by more than 50% of the people responding was that they didn’t have the time. Imagine that. Time. I could make all the cliché statements like no better time than the present, or there’s no time to waste, but I won’t do that.

The people I talk to know that getting their planning done is important toward achieving their family goals. Almost universally, everyone wants things to be as simple as possible for their kids and loved ones. Most people want assets to flow to family easily and without the burden of the probate court.

These things are important to families. So, it’s not that they don’t value the outcome they’d get from spending the time. No, that’s not it.

I interpret this reasoning to mean that they think the planning process will extend over a long enough period of time that they won’t be able to stay focused on it to bring it to completion. I think people assume they would have to muster the energy and wherewithal to keep the planning process a central part of their lives for months and months.

Why is this a false belief? First, any attorney worth his or her salt should be able to get your planning done in 45-60 days, tops. It’s important that estate planning attorneys use a system that keeps things moving. There should always be a next step on the schedule so there are no unnecessary delays.

Ingle Law utilizes two systems: one for the traditional one-on-one planning most folks have come to expect; and one for a small group planning model. The one-on-one planning model can be completed in as little as 45 days. In some rare cases, it might extend to 60 or 90 days. The small group planning model can shorten that significantly.

In the small group planning model we can work with 3-8 individuals or couples at a time in a classroom-like setting. You’re able to maintain your privacy, get all your questions answered, address the concerns of your family, and come away with a plan that fits exactly your needs and goals. And it can shorten the timeline to 30 days or less.

You can read more about this reason, and get some tips on how to get started right now by downloading our free guide, Finally Get Your Will Done. CLICK HERE to download yours today. And of course, if you have questions about this or anything else, you can always pick up the phone and call us.

Can you guess Reason #2? It’s an unlikely one, and one that really surprised me. Stay tuned for that, and Reason #3.

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