I recently read this statistic: 70% of Americans have done no estate planning whatsoever. It is therefore reasonable to believe that at least 7 out of every 10 people reading this article do not have a will. Whatever excuse you are using, my guess is that it is pretty flimsy. Read on for five reasons that could motivate you to get one.
1. A will shows that you care.
Your beneficiaries are grieving your loss. They don’t need the extra stress and anxiety of wondering what your wishes were. Putting those wishes in writing today will alleviate that future stressor and let them know how much you cared for them.
2. A will guarantees that your wishes are carried out.
Your option is to let your state government decide what happens to your estate. I have a widowed friend in her in her 80s who has no children and one living blood relative: a sister she hasn’t spoken to in many years. I am positive that my friend does not wish for her sister to get any of her assets, but, because she refuses to make a will, the state will undoubtedly decide that this sister gets a big portion of her estate.
3. You need to designate a guardian for any children under age 18.
PLEASE, if for no other reason, get that will done. You don’t want to leave your children’s care up to the government.
4. Death is Inevitable.
Making a will forces you to deal with the inevitable: you are going to die some day. This is a fact and not making a will does not change the fact. Planning for your death is the mature thing to do.
5. You will experience peace of mind.
Knowing you have done the right thing will give you a great feeling. Not acting will gnaw at you. Peace of mind is better.
Convinced? Then what are you waiting for? Get that will started today.