Everyone needs an estate plan, but some people still don’t get around to creating one. It’s easy to see why: setting one up can quickly become daunting, according to US News and World Report. There are also some misconceptions about what an estate plan can and cannot do. Here’s a list of six things that people planning an estate may be mistaken about, including the belief that estate plans are only for the wealthy.
Thinking about saving some money by doing your own estate planning? Perhaps you’ve decided to purchase one of those do-it-yourself wills that are available online. However, doing your own will isn’t always the best route for many people. The Wall Street Journal and Marketwatch take a look at some of the reasons why trying to save a little now could cost your family a lot later.