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Reasons why people do not have a will


Although most Kent area residents know how important an estate plan is few actually have gone about drafting one. Approximately 60 to 80 percent of adults in the U.S. don't have a will and there are many reasons they give for this. For each excuse a person has for not having a will there is still a reason why estate planning is important.

One excuse is that if they draft an estate plan death will soon follow. Of course everyone will die at some point and a well-crafted and thought out estate plan can ensure that a person's legacy and assets are passed one and they have estate protection.

Another excuse is that people believe they don't have anything to pass on. This is not true because almost everyone has something. Additionally, it is also very important that a person specifies their advanced health care directives in a living will. A basic will can work out property and asset distribution and a living will can help caregivers know what your medical wishes are in case you become incapacitated.

And, one more excuse is that a person did their estate planning decades ago. Estate planning attorneys believe that estate plans need to be revisited frequently to make sure that they still make sense. Significant events have probably occurred since the estate plan was created. Events like marriage, divorce, death and changes to a person's wealth profile can affect an estate plan.

An attorney can review the plan, take into the estate and tax laws, and make sure the estate plan meets their client's needs.

Source: montereyherald.com, "Liza Horvath, Senior Advocate: Debunking the excuses for not having a will", Liza Horvath, May 29, 2015

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