Let’s talk about Estate Planning, why it’s important and who needs it.
According to a survey conducted by Caring.com, in 2021, 67% of American adults do not have a will or any estate planning documents in place. This is a significant majority without a plan for their assets and end-of-life wishes.
Seniorliving.org reports that 70% of adults over the age of 65 do not have an updated will. This statistic highlights that even among older adults who should be more prepared for the future, a substantial number lack proper estate planning.
Trustandwill.com notes that 78% of millennials (those aged 18-36) do not have a will. This is particularly concerning given that estate planning is essential at all stages of life, not just for older individuals.
AARP.org states that a staggering 60% of American adults have not named beneficiaries for their retirement accounts, leaving these assets potentially tied up in legal proceedings.
Legalzoom.com highlights that without an estate plan, individuals risk their assets being distributed according to state laws, which may not align with their wishes. In such cases, the court determines the fate of their estate.
These statistics underscore the critical need for individuals to create an estate plan, regardless of their age or financial situation. Without one, they risk leaving their affairs in a state of uncertainty and potential legal complications for their loved ones.
I have had my estate plan in place for over a decade and encourage others to consider it as well. Nobody wants to talk about it, but it doesn’t have to be all doom and gloom. What an estate plan provides is peace of mind and will make the inevitable hard times a little less hard for your loved ones.
I can’t help you with the legal aspect or the document creating, but I CAN put you in touch with one of my trusted resources who can! Once you have your paperwork in order, I would love to circle back with you to get your important documents notarized. Please ask me any time for an introduction to somebody who can help!
