Why don’t most people have an estate plan?

Most people in the United States have not yet gotten around to making an estate plan. The majority of them will still tell you that estate planning is important and beneficial. But, despite this perspective, they don’t have a plan at this time – about 2/3 of Americans haven’t made one.

Even if you don’t have a plan yet yourself, you may be surprised that so many people are putting it off. What are some of the reasons why this happens? Is it a risk?

Simple procrastination

To begin with, many people really are just procrastinating, and they keep telling themselves that they will do it later. But life is busy and they never quite seem to find the time.

Unsure where to begin

One consistent problem that people cite is that they just don’t know how to get the process started. They know that they want to make a will or an estate plan, but they’re unsure what legal steps to take or what documents they need.

Not enough assets

Unfortunately, some people do believe that only the wealthy benefit from estate planning, so they think they don’t have enough assets for it to make sense. But the truth is that people of all ages can use estate plans to protect the assets they have, make medical decisions, take care of their children and much more.

Getting your plan in place

If you haven’t made an estate plan, you can see that you are certainly not alone. But it is a risk to keep procrastinating this process, as an unexpected passing would leave your family without any plan at all. Take the time to look into the legal options at your disposal. Speak to an experienced law firm today to explore your options.