By Lane V. Erickson, Idaho Estate Planning Attorney
Whenever I meet somebody for the first time, whether on a plane, at a family gathering, or just in some social event, inevitably I am asked what I do for a living. When I explain that I am an estate planning attorney a common response that I get is that the individual will say, “Well I don’t really own anything. I guess I don’t have an estate so I don’t really need any kind of estate planning.” Another common response is that people will say, “I can’t afford estate planning. It is just too expensive for me.”
When these statements are made to me in the form of a question, I usually take the time to explain to people why it’s important that they have an estate plan and how having an estate plan can actually be less expensive for them and their family in the long run. Here are the three most important things I try to explain to these individuals.