Have most people already made their estate plans?

On Behalf of | Feb 29, 2024 | Estate Planning |

Do you ever feel others have their lives so much more organized than you? That they’ve taken care of the things that responsible adults are meant to, and it’s only you that hasn’t.

If so, you’ll be delighted to learn most people do not have an estate plan. According to a Caring.com survey, only a third of U.S. adults have one – even though it’s one of the things that every responsible adult should have in place.

Don’t treat that as an excuse to delay making yours further. Use it as an incentive to get one step ahead while taking care of yourself and your loved ones in the process.

Why don’t people make an estate plan?

Here are some answers the survey discovered:

43% blamed procrastination: It’s easy to think you have years to live and plenty of time to make an estate plan. Hopefully, you do – but there are no guarantees.

40% thought they didn’t own enough: People sometimes fail to realize that the little they have could mean a lot to particular people. Your little sister might cherish your guitar to remember you by. Your son might have always dreamed of riding your battered motorbike when they were old enough to get a license. An estate plan can ensure they get them.

16% don’t know where to begin: The best way to learn is to begin, and there is help available to do so.

16% thought it too expensive: Simple estate planning does not cost much, and the savings it could bring should cover the initial outlay. Don’t just look at the initial cost but at the cost of not making one, which could be massive, especially if your estate is complex.

With appropriate help, you can quickly make an estate plan that deals with your assets as well as putting provisions in place for any ill health you may experience.