When Rocket Lawyer asked why so many people do not have wills, here’s what they said:
- 57% said they “just haven’t gotten around to making one”
- 22% felt that making a will wasn’t urgent
- 17% didn’t think they needed a will
- 14% don’t have a will because they don’t want to think about death
"Whether you’re married or single, a parent or childless, a millionaire or middle-income, you need a will."
A recent Forbes article, aptly entitled "Americans' Ostrich Approach To Estate Planning," also suggests that if you have assets in the six figures or more, you also should have a trust to minimize estate taxes and to avoid probate.
The article also notes that a trust may offer greater control over when and how your assets will be distributed —like only disbursing funds when your child reaches certain ages or limiting the use of the money for such purposes as education.
Don't be an ostrich like so many Americans—speak to a qualified estate planning attorney and ask him or her to help you draft a will, create a trust, and whatever else you might need based on your specific circumstances.
Get your head out of the sand!
Reference: Forbes (April 9, 2014) "Americans' Ostrich Approach To Estate Planning"