A 2015 survey concludes that 64% of Americans do not have a will. As an estate planning attorney, that is not surprising, but it is very concerning. I still run into people all the time who think that they don’t need an estate plan, because they are “too poor,” “too young,” or because they think “everything will go to my spouse when I die anyway.”
These are major misconceptions. If you do not have an estate plan, your property will pass according to state law upon your death. Is that something you want to trust to politicians? If so, it will probably result in serious unintended consequences. Think about the following scenarios:
These are just a few of the situations that can arise without proper planning.
I get it! We all procrastinate when it comes to difficult topics. And thinking about our inevitable death is not the easiest thing to do.
I promise though, once you have signed your Wills, Powers of Attorney, or other estate plan documents, you will feel a sense of relief. Let National Make-a-Will month be your motivation to call an attorney and start the process today.