A article in USA Today, Times change wills, yet many Americans don’t have one found that nearly half of all Americans don’t have a will “putting the future of their families and loved ones at risk.”
The article is based on a survey by Rocket Lawyer, a legal services provider. As you might guess, the younger a person is, the less likely he or she is to have a will. The survey bore that out, showing that almost three-fours of those under 34 don’t have a will. Surprisingly though, almost half of Baby Boomers (41 percent) don’t have one either.
There are many reasons people don’t have a will: they don’t think they have enough assets to warrant one, they think it’s too expensive to complete, or they just haven’t thought much about it. But having a will in place can protect your family and make sure important people in your life are cared for after you pass away by properly taking care of your finances and assets.
There are a few basic things to keep in mind if you are planning a will. This blog, Ten Things To Include In Your Will highlights some important considerations, including:
- Name a personal representative or executor
- Name beneficiaries to get specific property
- Specify how debts, expenses, and taxes should be paid
- Provide a caretaker for pets
If you need help with your will or other financial planning needs, please give us a call. We can help.