Although many residents of Kent know the importance of having a will, many still have not created one. Only 58 percent of baby boomers have estate planning documents and the numbers get worse as people get younger. Sixty-four percent of those aged 37 to 52 do not have a will, and 78 percent of those 18 to 36 do not have a will.
Clearly, these statistics show a large amount of trepidation when it comes to crafting a will, and there are several different reasons for the hesitance. Most will say that they have not gotten around to it or, in other types of situations, others may say that they do not have any assets to leave.
Nonetheless, these excuses can be a big mistake. Those who have children need to have a will to make sure the children's guardians have the approval of the parents. In addition, important health care related documents should be completed, including a health care power of attorney and a living will.
Regardless of one's reasons for not having completed a will or other estate-planning document, there is no time like the present. A legal professional skilled in estate planning can help their clients by making sure they have the proper forms filled out and their wishes secured. Although no one wants to plan for his or her eventual death, having an estate protection plan in place can be reassuring not only for the holder, but for the extended members of the family as well.
Source: AARP.org, "Haven't done a will yet?," accessed on March 2, 2017