Every year, Caring.com evaluates how people feel about estate planning in the United States and how many of them have taken any necessary steps to be proactive about key estate planning documents.
One of the most notable findings from the 2019 study, which involved more than 1,000 adults across the country, is that more half of Americans have had conversations about estate planning but haven’t articulated their wishes in documents.
A total of 53% of respondents have talked to a loved one about needing a living trust or a will and over half of respondents felt that a living trust or a will being in place is very important. But only 40% of people across the country actually have a living trust or a will. More than 60% of people aged 55 and above did have an estate plan conversation with a loved one, but younger people are far less likely to follow through on getting estate planning documents.
Only 36% of those respondents between the ages of 18 and 34 have talked with a loved one about the importance of estate planning. The study also found that those who have post-graduate college education are twice as likely to have a will as those people who have only had a high school education or less.
Putting together a will doesn’t have to be difficult. Sit down and talk with your trusted estate planning lawyer in Pasadena about how a will can protect you and enable smooth transfer of your assets if you pass away.