Most Americans do not have an estate plan

Apr 18, 2022

Planning for the future is critical for Florida adults of all ages and income levels. By implementing certain estate planning strategies and legal tools, one can have a measure of control over his or her future interests. This is practical and prudent for anyone who wants to have the final say over what happens to property, care for loved ones and make critical health care decisions for themselves. Despite the benefits, a survey finds that most Americans do not have an estate plan.

Putting off an important process

Since the pandemic, many have become aware of their need to have an estate plan in place. Despite this awareness of the importance of wills, medical planning and more, studies find that only around 33% have made the effort to create these plans. This means that nearly 70% of Americans are leaving their property and other matters up to chance and a court’s interpretation of the law when they pass away.

Most people delay estate planning because they simply don’t see the need for it. They may believe they are too young or that they don’t have enough assets to make the process worthwhile. Regardless of age or wealth, having a plan can protect loved ones and provide peace of mind.

The future starts now

The future is unpredictable. For those who do not have an estate plan, now is the time to take those steps, even if it is only drafting a will and putting a few basic protections in place. If a Florida adult is unsure of where to start with this process, it is helpful to seek the guidance and input of an experienced estate planning attorney.

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