Living in Colorado’s beautiful outdoors, many families prioritize adventure and exploration. Estate planning? Not so much. But estate planning is about preparing for the unexpected, and in Skipton Reynolds’ experience, too many people fall for common myths that keep them from protecting their families.
At a recent community event, Skipton met a middle-aged couple, Mark and Rachel, who had heard all the myths and were unsure if estate planning was for them.
“We don’t really need an estate plan, do we?” Mark asked. “We’re healthy and active. It seems unnecessary.”
Skipton smiled. He had heard this before. He explained to Mark and Rachel that estate planning is essential for everyone, no matter their age or health. He then debunked the most common myths that Colorado families like theirs often believe:
Myth 1: We’re too young for estate planning.
Skipton explained that while they were active and healthy now, life is unpredictable. Estate planning ensures that if the unexpected happens—whether it’s an accident on the slopes or a sudden illness—their family is protected.Myth 2: Estate planning is only for the wealthy.
Mark and Rachel thought estate planning was only necessary for people with large estates. But Skipton reassured them that estate planning is about protecting all of their assets, no matter the size. It’s about making sure their home, savings, and other investments are passed down smoothly.Myth 3: Once we make a plan, we’re done.
Skipton explained that estate plans should be revisited regularly. Life changes, and so should their plan. Whether they had new children, purchased more property, or wanted to change beneficiaries, it was important to keep their plan current.
By the end of their conversation, Mark and Rachel were ready to take the next step. They made an appointment with Skipton to create their estate plan and protect their family’s future.
Don’t let estate planning myths keep you from securing your future. Register for a workshop here or schedule a consultation to learn more.