The Importance of Wills

A recent survey by Rocket Lawyer revealed that 71% of adults under age 34, and 41% of older baby boomers do not have a will. Most commonly, people do not have a will because it is too expensive, they are procrastinating, or they think they do not have enough assets.

Without a will, you lose control over the disposition of your assets and your estate could be subject to more taxes. Furthermore, wills can ensure that non-traditional families are provided for since state intestacy laws do not recognize same-sex couples or cohabitating unmarried couples. Wills also enable you to provide for your pets now.

Wills are a good idea for everyone regardless of your amount of assets, so more adults should seek advice from an estate planning professional to lower the percentages that the Rocket Lawyer survey revealed.

See Where There’s a Will There’s A Way – The Importance of Estate Plans, Digital Journal, June 16, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.