Harrell, Stoebner & Russell, P.C.
cta contact
Offices Located In Temple And Killeen
Call To Schedule A Consultation: 254-935-3036

3 common myths regarding estate planning

Estate planning myths can cause a lot of problems. People often buy into what they hear casually, even if they never got legal advice or did any deep research on their own. This can lead to critical mistakes that they regret later in life.

To help you avoid this scenario, here are three common myths to watch out for:

You can do your estate planning when you're older

Maybe you can, but you never know. Estate planning isn't just for grandparents or people who have retired. The unfortunate reality is that you can never predict when you'll need that plan. Putting it off could be a disaster.

Your estate plan covers your life insurance policy

Actually, you have to pick a beneficiary for your life insurance policy when you set it up. The money generally goes to that person, no matter what your estate plan itself says. For this reason, you want to coordinate things to make sure that your estate plan and your beneficiary designations work together.

Once you create the plan, you're done

You may not be. It's important to update the estate plan often, especially if you experience a significant life change. For instance, you could inherit money from your own parents or you could get divorced. When anything changes, update that plan to match.

These are not the only estate planning myths out there, but they give you a great place to start. Make sure you know exactly what legal options you have, what steps you need to take and how to create the ideal plan that reflects your wishes.

No Comments

Leave a comment
Comment Information
Email Us For a Response

Contact Harrell, Stoebner & Russell, P.C. To Discuss Your Legal Issue

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Harrell, Stoebner & Russell, P.C. Attorneys at Law

Temple Office
2106 Bird Creek Drive
Temple, TX 76502

Phone: 254-935-3036
Fax: 254-771-2082
Temple Law Office Map

Killeen Office
2210 E. Central Texas Expy.
Suite 102
Killeen, Texas 76543

Phone: 254-432-7058
Killeen Law Office Map

Representation For Clients Throughout Central Texas