A new study conducted by Princeton Research and published on Caring.com identified that approximately 60% of adult Americans do not have any kind of estate planning document like a will or a living trust.
One of a more troubling statistics also shared in this study of more than 1,000 individuals was that just over one-third of parents who have a child under the age of 18 have taken the appropriate planning precautions. Without a will that outlines the person you intend to step in as the guardian to your minor children, you may be exposing your family to further aggravation and stress if something were to happen to you.
Planning ahead and having these critical estate planning documents gives you something to work with as your plan unfolds over the future. Although 80% of those individuals older than age 72 had taken estate planning precautions, those at the other end of the age scale, between ages 18 and 36, had not taken action in such large numbers. In fact, just one in five of those respondents had put together a trust or a will.
Most people don’t want to deal with the unpleasant ramifications of failing to plan but they feel uncomfortable with putting together their estate plan. Consult with a knowledgeable attorney to learn more about how this can help you.
It’s time to get organized with your will. Contact a Georgia estate planning attorney today.