Planning out the details of your finances, estate, and other aspects of your responsibilities can seem complicated and overwhelming. But this type of planning is absolutely necessary. Many people put it off, for various reasons, but if you are one of those who get your affairs in order before you have the actual need to know just what order they are in, you will be glad you did. This is where estate lawyers come in. Dealing with wills and estate lawyers can simplify the entire process so that you can return to your everyday life with the peace of mind that everything is as it should be.
Why are wills and estate planning so important?
Ask any number of estate lawyers, and you will quickly find just why it is a good idea to get those affairs of yours in order. And when it comes down to it, there isn’t much of a mystery as to why as there is to how. It has been estimated that about 55% of adults across the country to not have a will in place or any type of estate plan set up.
For some people, this may have to do with the fact that the daily financial struggle doesn’t leave much time for such planning, or the thought that if you are simply living paycheck to paycheck, there really isn’t anything to leave in a will. In fact, the number of children nationwide whose parents cannot pay the mortgage, and are therefore at risk for losing their homes works out to be one child in every single classroom in the country. That is far too many. But this should not stop you from speaking with an estate planning lawyer.
Why so many avoid the planning process
A great number of people do not have a will. One survey asked why some of these individuals did not have a will. Of those who responded, 18% said that they didn’t think it was necessary and another 16% said that it was far too complicated to attempt to deal with at all. Another 14% said that they couldn’t afford it, and 13% held the belief that their spouse or child would simply automatically inherit anything that they owned in the event of their death. There is a lot of misinformation when it comes to the topic, and it is best to ask a professional any questions that you have regarding the matter.
In today’s day and age, we are all connected to each other and to sources of information like never before. This has led to a major shift in the way that people lead their lives. So many people rely on the Internet and online services. In fact wholly 75% of participants in one survey admitted that they would be the most likely to update their will or to create one if they didn’t already have one if there was a simple and reliable method available to do so online.
It boils down to being prepared. You never know what the next moment holds in store, and it’s better to set your loved ones up for success than to have them scrambling for answers amidst their grief in the unfortunate case that you passed away before creating a will or any sort of estate planning.