Recent Study Finds That Most People Believe Having a Will Is Important, but Less Than Half Have One

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November 21, 2019
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Recent Study Finds That Most People Believe Having a Will Is Important, but Less Than Half Have One

Creating a Will is one of those tasks that many people, understandably, are uncomfortable with. After all, making a Will forces you to confront your own mortality, to consider life going on for your loved ones without you. It’s an important task though — one we believe nearly everyone over the age of 18 should address.

Caring.com recently surveyed more than 1,000 adults in the United States and learned that 76 percent of respondents indicated they believe it is important to have a Will. That does not mean that three quarters of adults in the U.S. actually have Wills, Trusts, or other estate planning documents in place. In fact, the survey found that only 43 percent of people actually have a Will in place today. That percentage drops sharply for younger adults; just one in five people aged 18 – 35 have Wills.

There are many excuses for not having a Will. Some people put off the task because they don’t think they need to worry about estate planning; others are intimidated by the process or are concerned about the cost. The Caring.com survey referenced above found that half of survey respondents who haven’t prepared Wills yet simply haven’t gotten around to doing it.

For many people, there is a tendency to think they have plenty of time to get their affairs in order. That’s especially true for young, relatively healthy people. The truth is that none of us knows how much time we have left. Preparing a Will, in which you identify how your assets should pass and identify who should be in charge of handling your affairs, can be an enormous comfort for your loved ones, should the unexpected happen.

At the Estate Planning & Legacy Law Center, we understand the importance of Wills and estate planning, no matter what stage of life you are in. We are committed to making the process as simple and straightforward as possible, helping you protect those who are most important to you. To learn more and to schedule an initial consultation, contact us today