Only 33% of American adults have executed an estate plan. That’s according to a recent survey from Caring.com reported by CNBC. This means the vast majority of people are content to let others determine their end of life care, and have the state decide what happens to their wealth — and to some extent their loved ones — after they have passed away.
Why Do People Avoid Estate Planning?
They say excuses are like armpits. Everyone has them, and they all stink. The reasons survey respondents said they do not have an estate plan proves this right.
Here’s the breakdown:
- 40% of survey respondents “just haven’t gotten around to it”
- 33% said they don’t have enough assets to pass on to their loved ones
- 13% said the estate-planning process is too costly; and
- 12% said they do not know how to get a will.
Let’s dive in.
Anyone who “just hasn’t gotten around to it” just needs to contact our office and set up a meeting with our experienced team of estate planning attorneys. We walk our clients through the estate planning process step by step. We do most of the heavy lifting. All our clients do is gather a few documents — which we can help with if needed — and answer a few questions.
The 13% that suspect the process described above is too costly should give us a call and get a quote. Palmer & Slay, PLLC is known for its reasonable rates and we always provide upfront estimates. We would also point out that paying a little bit now can save your loved ones a lot of money and frustration down the line.
Jumping back up to the 33% who said they “don’t have enough assets to pass on to their loved ones,” we can tackle a common misconception held by people in the Brandon, MS area. Estate planning is important no matter your net worth. An estate plan includes documents that outline your end of life wishes, and appoints someone who can make medical and financial decisions on your behalf if you become incapacitated.
Finally, 12% of those surveyed said “they do not know how to get a will.” The solution to this is simple. Contact Palmer & Slay, and we will help you get not only a will, but other important estate planning documents.
Preserving Your Wealth. Protecting Your Loved Ones.
There is no good excuse not to have an estate plan in place. When you are ready to join the 33%, and get a custom estate plan that meets your unique needs, the Palmer & Slay team is here for you.
Our experienced attorneys will guide you through the process, making it as quick and easy as possible. At the end of the day you will have the peace of mind that comes with knowing you will be well cared for at the end of your life, and your loved ones will not be left questioning your wishes after you are gone. Please contact us today to set up a meeting.