Perhaps you already have a will, but odds are that you do not. Every year, studies find that the majority of Americans haven’t done their estate planning yet, so most people don’t have a will.
At the same time, most people understand that they need to have one. There are those who mistakenly believe that estate planning is just for someone who is extremely wealthy – the truth is that it can help anyone, regardless of total wealth – but most people still know they have assets that they want to leave behind. So why don’t they have a will?
They don’t know how to get started
One potential reason is simply that people aren’t sure where to begin or what paperwork to do. They would like to draft a will, but they don’t know how to begin.
They think they have plenty of time
A very common reason that people give for not writing a will is that they’re planning on writing one when they’re older. They just believe they have enough time to create that document years or decades in the future. The problem with this outlook is that it’s a major risk if anything were to happen unexpectedly.
They feel uncomfortable
It’s very understandable to feel uncomfortable talking about making end-of-life plans. But that doesn’t change the fact that you’re going to need to have those plans in place at some point.
If you’ve been putting off your estate planning for one of these reasons or any other, it may be a good idea to look into the legal options you have to make a solid plan for your family.