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Study shows most Americans don’t have an estate plan

On Behalf of | May 4, 2022 | Estate Planning |

Far too many Floridians forego estate planning. In fact, a recent study showed that 67% of Americans don’t have an estate plan. This shortcoming flies in the face of the pandemic and an increased awareness of the need for adequate estate planning.

Why people put of estate planning

So why are so many people putting off estate planning? The recent study that was conducted found that 40% of people who haven’t created an estate plan indicated that they simply haven’t gotten around to creating the documents that they need. Another third of those surveyed believed that they had insufficient assets to warrant an estate plan, while smaller numbers of people indicated that they thought that estate planning was too expensive or that they didn’t even know how to start the process.

The reality

Sadly, most of these excuses are risky and untrue. Estate planning really should be a top priority. After all, if you become incapacitated or pass away without an estate plan in place, then your decisions and your assets could be mismanaged or end up in the hands of someone you don’t trust.

Additionally, estate planning is critical for everyone, not just those who have a significant number of assets. You need to make sure that you’re taking care of yourself, your future, and your loved ones. Estate planning can do that at a reasonable cost.

An attorney may be able to help

We understand that the process can seem confusing or cumbersome, but don’t let that deter you from creating the estate plan that you need. By talking with a legal professional who is experienced in this area of the law, you can find a strategy that works for you and your loved ones and puts your mind at peace.



Photo of Jennifer D. Sharpe