• Our Promise to You During COVID-19/Coronavirus
    • Skip to primary navigation
    • Skip to main content
    • Skip to primary sidebar
    • Skip to footer
    • Home
    • Our Firm
      • About Our Firm
      • Team Profiles
    • Estate Planning
      • Arizona Long Term Care (ALTCS)
      • Asset Protection
      • Business and Succession Planning
      • Elder Law & Medicaid Planning
      • Estate and Gift Tax Figures
      • Family-Owned Businesses & Farms
      • IRA & Retirement Planning
      • Incapacity Planning
      • Legacy Planning
      • LGBTQ Estate Planning
      • Pet Planning
      • Probate
      • Powers of Attorney
      • SECURE Act
      • Trust Administration
    • Elder Law
      • Are You A Caregiver
      • Coping With Alzheimer’s
      • Emergency Medicaid & Nursing Home Planning
      • Guardianship & Conservatorship
      • Tucson Medicaid (ALTCS) Planning
      • Tucson Veteran’s Benefits
    • Webinars
    • Resources
      • DocuBank
      • Elder Law Reports
      • Free Estate Planning Seminars
      • Frequently Asked Questions
        • Estate Planning FAQs
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning Frequently Asked Questions
        • Trust Administration & Probate Frequently Asked Questions
        • Tucson Estate Planning FAQs
      • Is Your Estate Plan Outdated?
      • Latest News
      • Newsletters
      • Pre Consultation Form
      • Professional Resources
      • Published Books
      • Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
    • Reviews
      • Our Reviews
      • Review Us
    • Contact Us
    • Blog

    Kinghorn Heritage Law Group, PLC

    Tucson Estate Planning Attorneys

    Connect with us today(520) 529-4000

    Attend a Free Seminar
    Home / Estate Planning / Estate Planning Myths: Don’t Let These Complicate Your Situation

    Estate Planning Myths: Don’t Let These Complicate Your Situation

    May 25, 2020Estate Planning

    When you mistake estate planning myths for fact, there’s a greater chance that you’ll make a mistake that affects you and/or your family now or upon your death. Since you don’t want to put the well-being of your loved ones at risk, it’s critical to become familiar with the many myths that have the potential to complicate your situation.

    While there are a countless number of estate planning myths that can bog you down, it’s these three that often require a large portion of your attention:

    • Estate planning is only for the wealthy: This is a long-standing myth that you should never believe. Regardless of your financial situation, there are benefits of creating an estate plan. Don’t wait until later in life, as you begin to accumulate more assets, to strongly consider the creation of an estate plan.
    • Young, healthy people don’t need an estate plan: Being young and healthy is a good feeling, but it doesn’t excuse you from creating an estate plan. You don’t know what the future holds, so you should always protect yourself with an estate plan. Forget about your age and health for the time being, and pay attention to what an estate plan can do for you now and in the future.
    • Assuming your spouse will inherit everything: If you’re married, it’s easy to assume that everything you own will end up with your spouse. However, there are a variety of factors that can change that, such as if you get divorced or you and your spouse pass on at the same time. Also, there may be specific assets you want to leave to others, such as your children or favorite charity.

    When it comes to estate planning, it’s critical that you make decisions based on facts. Don’t let any of these myths throw you for a curve.

    If you have any questions about these myths and how to overcome them, contact our office to learn more and schedule a consultation.  

    • Author
    • Recent Posts
    Kevin Kinghorn
    Kevin Kinghorn
    Kevin Kinghorn has been a practicing attorney in Tucson and southern Arizona since 1993. He has been certified as a Specialist in Estate and Trust Law by the State Bar of Arizona’s Board of Legal Specialization. His practice includes all facets of estate planning including trusts, probate, trust administration, Medicaid and VA planning, and business planning and formation.
    Kevin Kinghorn
    Latest posts by Kevin Kinghorn (see all)
    • Updating Your Plan: Your Trust or Will - January 25, 2021
    • Take Care of Yourself When Caring for Another - January 4, 2021
    • Business Planning: Things You Need to Think About - December 21, 2020

    Other Articles You May Find Useful

    Kinghorn Law
    How Will You Pay for Long-Term Care?
    Kinghorn Law
    Preparing for the Unexpected…and the Eventual
    Kinghorn Law
    What’s Wrong with DIY Estate Planning?
    Kinghorn Law
    Use the Exclusion or Lose It
    Kinghorn Law
    Should You Tell Your Children About Your Estate Plan?
    Kinghorn Law
    The Basics: Financial Power of Attorney

    Primary Sidebar

    FREE ESTATE PLANNING WORKSHEET

    There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
    • This field is for validation purposes and should be left unchanged.

    Follow Us

    • fb
    • tw
    • ld
    • yt

    Subscribe to Our Blog

    • This field is for validation purposes and should be left unchanged.

    Testimonials

    default image

    In this day and age it is very rewarding and comforting to make a major decision for the long-term security of your family. Over 14 years ago we decided upon the Kinghorn Heritage Family to create our family trust. Through the years it became very evident that this decision was a major and necessary step for a secure future in an ever-changing legal climate. The Kinghorn Family has been a close friend that has always been there to serve our family.

    Gary and Velma T. Client Review September 8, 2020

    default image

    We appreciate the programs presented that keep us informed and updated in today’s internet and financial world. It is a comfort to know that you are only a phone call away if questions arise.

    Robert and JoAnn H. Client Review September 8, 2020

    default image

    We enjoyed meeting all the behind-the-scenes people on your team and want to thank you for the peace of mind you’ve given us and our children.

    M.D. Client Reveiw September 8, 2020

    default image

    What an amazing law firm, where the people I refer to them are handled as good friends, family, and confidantes.

    Eileen E. Client Review September 8, 2020

    default image

    Thank you Allison and Kinghorn Law family for everything you have done to make our end-of-life decisions a reality and stress free. When we think of Kinghorn: trust, peace of mind, professional. Outstanding Law Firm!

    Ken and Cheryl V. Client Review September 8, 2020

    default image

    Very satisfied with your company and staff.

    Robert and Britt O. Client Review September 8, 2020

    default image

    When you mistake estate planning myths for fact, there’s a greater chance that you’ll make a mistake that affects you and/or your family now or upon your death. Since you don’t want to put the well-being of your loved ones at risk, it’s critical to become familiar with the many myths that have the potential to complicate your situation.

    While there are a countless number of estate planning myths that can bog you down, it’s these three that often require a large portion of your attention:

    • Estate planning is only for the wealthy: This is a long-standing myth that you should never believe. Regardless of your financial situation, there are benefits of creating an estate plan. Don’t wait until later in life, as you begin to accumulate more assets, to strongly consider the creation of an estate plan.
    • Young, healthy people don’t need an estate plan: Being young and healthy is a good feeling, but it doesn’t excuse you from creating an estate plan. You don’t know what the future holds, so you should always protect yourself with an estate plan. Forget about your age and health for the time being, and pay attention to what an estate plan can do for you now and in the future.
    • Assuming your spouse will inherit everything: If you’re married, it’s easy to assume that everything you own will end up with your spouse. However, there are a variety of factors that can change that, such as if you get divorced or you and your spouse pass on at the same time. Also, there may be specific assets you want to leave to others, such as your children or favorite charity.

    When it comes to estate planning, it’s critical that you make decisions based on facts. Don’t let any of these myths throw you for a curve.

    If you have any questions about these myths and how to overcome them, contact our office to learn more and schedule a consultation.  

    Chandler V. Client Review September 8, 2020

    default image

    Estate Planning attorneys are sometimes criticized for offering needlessly complex, 'canned' solutions. This never has been the case with Kevin. The documents he created were comprehensive when appropriate and surprisingly simple when suitable. In every case, they were individually crafted to meet our unique needs.

    Rich D. Client Review September 8, 2020

    << Prev
    Next >>

    Where We Are

    Kinghorn Law
    3573 E. Sunrise Drive, Suite 209
    Tucson, AZ 85718
    Phone: (520) 529-4000

    See Larger Map
    Get Directions

    Footer

    • Speaker Connection
    • Advantages of Working With Our Firm
    • Disclaimer
    • Privacy Policy
    • Sitemap
    • Contact Us

    Connect with Us

    • fb
    • tw
    • ld
    • yt
    footer-logo


    © 2021 American Academy of Estate Planning Attorneys, Inc.

    Attorney Advertisement