In 2024, research indicates that less than one-third of Americans have a will, signaling a troubling trend in estate planning. This decline can have serious repercussions, not only for individuals but also for their families and loved ones.
Why This Matters:
- Legal Complications: Without a will, state laws dictate asset distribution, potentially leading to family disputes and unintended beneficiaries.
- Financial Impact: Estate planning helps minimize taxes and legal fees, preserving more wealth for heirs.
- Healthcare Decisions: Estate plans often include advance directives, ensuring your medical wishes are respected.
Why Aren’t People Planning?
- Procrastination: Many people delay estate planning, thinking it’s only for the elderly or wealthy.
- Lack of Awareness: Misconceptions about the cost and complexity of creating a will deter individuals.
The Solution:
- Education: Increasing awareness about the importance and accessibility of estate planning.
- Professional Guidance: Encouraging individuals to seek advice from estate planning professionals to simplify the process.
Take Action
Don’t leave your legacy to chance. Whether you’re young or old, wealthy or not, creating an estate plan ensures that your wishes are honored, and your loved ones are protected. Start your estate planning today to secure peace of mind for the future. The Davis Schilken, PC team offers no obligation meetings. Call us today (303)670-9855. We make estate planning simple!