June 26, 2004

Leaving Loved Ones Vulnerable

About 58% of adult Americans don't have a basic will. 69% don't have any sort of advance medical directives.


Why don't people make wills?

Myth and superstition

    They think they're not old enough - 15%
    They think they don't have enough assets - 25%
    They don't want to think about death and incapacity - 8%

So what makes people draw up a will?
    The arrival of a new child - 25%
    Marriage - 7%

And I think life experience. When you experience how bad it can be, you don't want anyone else ever to go through that. Almost one in five Americans (18%) have personally experienced problems after the death or incapacitation of a loved one due to a lack of or improperly prepared an estate plan, including conflicts over asset distribution.

What's been your experience? Do you have any horror stories or good stories to encourage others to do the responsible thing?

Posted by Jill Fallon at June 26, 2004 5:17 PM | Permalink