Upon entering retirement, most people are planning for living costs, but what they fail to create is a will or living trust. In a recent study, 58% of adults reported not having either type of crucial estate-planning element in place. Of course, it is easy for Americans to come up with reasons not to have an estate plan, with the most common excuse being not having enough assets. Even if the excuses are true, you may be causing your loved ones unnecessary anguish. Having a will or a living trust will help to carry out your intent in the event that something unfortunate happens, so make sure to plan for those most important to you.
See Maurie Backman, 58% of Americans Are Making This Huge Retirement Mistake, Motley Fool, February 12, 2017.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
