Legacy Speaks

(201) 743-9354

3 common Estate Planning Myths

Posted by Ada Davis | Aug 03, 2020 | 0 Comments

Myth #1:Estate Planning is only for rich people. 

Fact: Whether you have a lot of assets or no assets at all, an effective Estate Plan will protect your family in the event of your passing

Myth #2: Estate Planning is only for older people. 

Fact: Estate planning is most effective when you're younger because that's when you are more likely to have minor children or other people dependent on you for their daily provision.

Myth#3: An Estate Plan doesn't have to be in writing. 

Fact: While it is true that you can verbally communicate the distribution of your assets to your loved ones, those requests can only be enforced by a court of law if they exist in writing. 

About the Author

Ada Davis

Counselor. Teacher. Advocate. Attorney Ada A. Davis is a graduate of Georgetown University Law Center. For more than fifteen years she has practiced law in the New Jersey and New York areas, including working as an associate at two big law firms in New York, NY. For the past nine years she has m...

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Help us help you!

Davis Law Office is passionate about helping you transform your family's future. Contact us now to get started creating a legacy you can be proud of.

Contact Us Today

The Legacy Attorney is committed to answering your questions about Estate planning needs in Jersey City, New Jersey.

We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.

Menu