Then and Now: Why People Defer Will Drafting

Based on a recent survey’s finding that 64% of Americans do not have a will, it is important to understand why so many defer drafting their will. In 1927, the top reasons for avoiding the will drafting process included superstitions about ushering in death, mental laziness, a sense of inadequacy to plan for the future, and sheer hesitation and procrastination. 

Today, some hinge their lack of estate planning on being too young. However, life is unpredictable, so it is essential that you are ready for the unexpected. Additionally, while many of us would like to avoid thinking about dying, an estate plan can ensure that your legacy is passed on just as you intended. Further, a portion of today’s Americans think that only the wealthy need wills, but this is a misinformed illusion. No matter how much your assets are worth, it is important to make sure they go to the desired individuals. As time goes on, we must strive to change our habits and make reliable estate plans.   

See Anna Sulkin, Now and Then: Why People Procrastinate Making Wills, Wealth Management, February 2, 2017.