{"id":14478,"date":"2023-02-28T14:45:12","date_gmt":"2023-02-28T20:45:12","guid":{"rendered":"https:\/\/johnsonwim.com\/?p=14478"},"modified":"2024-01-29T11:12:48","modified_gmt":"2024-01-29T17:12:48","slug":"estate-planning-myths","status":"publish","type":"post","link":"https:\/\/johnsonwim.com\/estate-planning-myths","title":{"rendered":"Estate Planning Myths"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"14478\" class=\"elementor elementor-14478\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-40a35f36 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"40a35f36\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5815c50b\" data-id=\"5815c50b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-12e53644 elementor-widget elementor-widget-text-editor\" data-id=\"12e53644\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Dispelling myths, rumors and misinformation is an ongoing battle for financial advisors. Estate planning is a topic especially prone to myths and misinformation. In this report, I\u2019m going to dispel 10 common myths about Estate Planning and give you the real facts \u2014 facts that could be critically important to helping protect your financial future.<\/p><p>Myth #1: \u201cI\u2019m too young to need an estate plan.\u201d<br \/>Statistically, that statement may be closer to true if you\u2019re in your 20s and 30s. The problem is, many people still believe this statement in their 50s and beyond. As a result, a lot of people who intended to create an estate plan \u201ceventually\u201d end up dying before they get the chance. The result is often a legal and emotional nightmare for their families.<\/p><p><br \/><input name=\"gform_field_values\" type=\"hidden\" value=\"\" \/><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4578dc8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4578dc8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0b86f3b\" data-id=\"0b86f3b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8789381 uael-gf-ajax-true uael-gf-style-box uael-gf-input-size-sm uael-gf-enable-classes-no 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Estate planning is a topic especially prone to myths and misinformation. In this report, I\u2019m going to dispel 10 common myths about Estate Planning and give you the real facts \u2014 facts that could be critically important to helping protect your financial future.<\/p>\n<p>Myth #1: \u201cI\u2019m too young to need an estate plan.\u201d<br \/>\nStatistically, that statement may be closer to true if you\u2019re in your 20s and 30s. The problem is, many people still believe this statement in their 50s and beyond. As a result, a lot of people who intended to create an estate plan \u201ceventually\u201d end up dying before they get the chance. The result is often a legal and emotional nightmare for their families.<\/p>\n<p>Myth #2: \u201cOnly wealthy people need an estate plan.\u201d<br \/>\nTechnically speaking, an estate is defined simply as \u201call the property owned by a particular person.\u201d In other words, if you have property and assets, you have an estate and need an estate plan. Your estate includes your savings accounts and investments, naturally, but it also includes your home, boat, collectibles, heirlooms, and even items of sentimental value.<\/p>\n<p>Myth #3: \u201cAn estate plan is only concerned with assets and property.\u201d<br \/>\nThat\u2019s wrong because estate planning is also very much about emotions, relationships, and deeply personal matters. In fact, in my experience, that\u2019s the greatest risk of not having an estate plan. It\u2019s not the legal or financial chaos that often ensues, but the emotional fallout. I\u2019ve seen families torn apart by arguments over who gets what, or over what to do with a parent on life support. A comprehensive estate plan could have helped prevent these arguments. That leads us to myth number four.<\/p>\n","protected":false},"author":1,"featured_media":16469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_theme","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4,5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Estate Planning Myths - Johnson Wealth and Income Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/johnsonwim.com\/estate-planning-myths\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Estate Planning Myths - Johnson Wealth and Income Management\" \/>\n<meta property=\"og:description\" content=\"Dispelling myths, rumors and misinformation is an ongoing battle for financial advisors. Estate planning is a topic especially prone to myths and misinformation. In this report, I\u2019m going to dispel 10 common myths about Estate Planning and give you the real facts \u2014 facts that could be critically important to helping protect your financial future.  Myth #1: \u201cI\u2019m too young to need an estate plan.\u201d Statistically, that statement may be closer to true if you\u2019re in your 20s and 30s. The problem is, many people still believe this statement in their 50s and beyond. As a result, a lot of people who intended to create an estate plan \u201ceventually\u201d end up dying before they get the chance. The result is often a legal and emotional nightmare for their families.  Myth #2: \u201cOnly wealthy people need an estate plan.\u201d Technically speaking, an estate is defined simply as \u201call the property owned by a particular person.\u201d In other words, if you have property and assets, you have an estate and need an estate plan. Your estate includes your savings accounts and investments, naturally, but it also includes your home, boat, collectibles, heirlooms, and even items of sentimental value.  Myth #3: \u201cAn estate plan is only concerned with assets and property.\u201d That\u2019s wrong because estate planning is also very much about emotions, relationships, and deeply personal matters. In fact, in my experience, that\u2019s the greatest risk of not having an estate plan. It\u2019s not the legal or financial chaos that often ensues, but the emotional fallout. I\u2019ve seen families torn apart by arguments over who gets what, or over what to do with a parent on life support. A comprehensive estate plan could have helped prevent these arguments. That leads us to myth number four.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/johnsonwim.com\/estate-planning-myths\" \/>\n<meta property=\"og:site_name\" content=\"Johnson Wealth and Income Management\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-28T20:45:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-29T17:12:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/johnsonwim.com\/wp-content\/uploads\/2023\/02\/Johnson-Wealth-and-Income-Management-Estate-Planning-Myths-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"1295\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Johnson Wealth &amp; Income Management\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Johnson Wealth &amp; Income Management\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/johnsonwim.com\/estate-planning-myths#article\",\"isPartOf\":{\"@id\":\"https:\/\/johnsonwim.com\/estate-planning-myths\"},\"author\":{\"name\":\"Johnson Wealth &amp; 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Estate planning is a topic especially prone to myths and misinformation. In this report, I\u2019m going to dispel 10 common myths about Estate Planning and give you the real facts \u2014 facts that could be critically important to helping protect your financial future.  Myth #1: \u201cI\u2019m too young to need an estate plan.\u201d Statistically, that statement may be closer to true if you\u2019re in your 20s and 30s. The problem is, many people still believe this statement in their 50s and beyond. As a result, a lot of people who intended to create an estate plan \u201ceventually\u201d end up dying before they get the chance. The result is often a legal and emotional nightmare for their families.  Myth #2: \u201cOnly wealthy people need an estate plan.\u201d Technically speaking, an estate is defined simply as \u201call the property owned by a particular person.\u201d In other words, if you have property and assets, you have an estate and need an estate plan. Your estate includes your savings accounts and investments, naturally, but it also includes your home, boat, collectibles, heirlooms, and even items of sentimental value.  Myth #3: \u201cAn estate plan is only concerned with assets and property.\u201d That\u2019s wrong because estate planning is also very much about emotions, relationships, and deeply personal matters. In fact, in my experience, that\u2019s the greatest risk of not having an estate plan. It\u2019s not the legal or financial chaos that often ensues, but the emotional fallout. I\u2019ve seen families torn apart by arguments over who gets what, or over what to do with a parent on life support. A comprehensive estate plan could have helped prevent these arguments. 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