Importance of Estate Planning: 3 Reasons People Aren't Drafting a Will
Ensuring your family’s future is extremely important, and though it’s a difficult conversation to have, you must talk about asset distribution with your loved ones in the event of something happening to you or your family. Estate planning should be at the top of every adult’s priority list in order to secure the safety of their family. The bigger your family, the more important this conversation becomes.Though drafting a will is an essential part of life, there are far too many Americans that have not completed or even started the estate planning process. No matter what your familial situation is or how old you are, you must start thinking about your family’s future. Here are some of the main reasons why Americans have yet to complete their will:
- They don't want to discuss intimate details with someone -- When it comes to estate planning, every asset must be included. If you aren't honest about your finances, assets, and debt, this can bring up some awkwardness. Additionally, it's not fun discussing death with anyone, let alone an estate and probate attorney. Don't let these sensitive topics deter you from making these important future plans. You can't avoid these uncomfortable topics forever.
- They don't believe they have enough to issue a will -- Approximately 29% of those without a will said it was because they "don't have enough assets to leave to anyone." Just because someone isn't wealthy or doesn't have a large estate doesn't mean they shouldn't draft a will. Even if you think you don't have much to offer your friends and family when you're gone, there most likely are plenty of items that someone can use or, at the very least, appreciate.
- They feel healthy, young, and strong -- If that's the case, great! But they should still draft a will. Anything can happen and tragedy can unfortunately strike at any moment. Even the healthiest individual can suddenly become ill. That means it's imperative for anyone who has a family to draw up a detailed and thorough will, no matter your current health situation.
If you need legal assistance and help with your estate planning, contact an experienced law firm for assistance. Give Duncan Legal a call right away and start planning for your family's future!