It's been estimated that seven of 10 Americans have no estate plan. Recent stories reported by the media have shed light on the tragedies that can befall a person who dies without an estate plan. While most people's estate value falls considerably short of Anna Nicole Smith's mind-boggling $500 million, it's a mistake to assume that estate planning is not warranted based on the value of your assets alone. According to Fairfield-based Chartered Financial Consultant Bradley Bofford, even people of modest means should develop an estate plan - and they should do it as soon as possible. "Time waits for no one," Bofford says.

Fairfield, NJ (PRWEB) June 5, 2007 - It's been estimated that seven of 10 Americans have no estate plan. Recent stories reported by the media have shed light on the tragedies that can befall a person who dies without an estate plan. While most people's estate value falls considerably short of Anna Nicole Smith's mind-boggling $500 million, it's a mistake to assume that estate planning is not warranted based on the value of your assets alone. According to Fairfield-based Chartered Financial Consultant Bradley Bofford, even people of modest means should develop an estate plan - and they should do it as soon as possible. "Time waits for no one," Bofford says.

"It's easy to feel that because you have a modest amount of assets that there is no need to develop an estate plan," said Bofford. "But you couldn't be more wrong. If you own anything with value, from money, stocks and property to jewelry and collectibles, you have an estate that needs to be properly planned. The problem is, too many people put off doing even basic estate planning work. That's a recipe for disaster."

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