{"id":1376,"date":"2025-04-19T11:55:53","date_gmt":"2025-04-19T11:55:53","guid":{"rendered":"https:\/\/staging8.dynaserverx.com\/newenglandtrust.com\/?post_type=newsletter&p=1376"},"modified":"2025-04-19T11:55:53","modified_gmt":"2025-04-19T11:55:53","slug":"if-you-dont-have-a-will-yet-why-not","status":"publish","type":"newsletter","link":"https:\/\/staging8.dynaserverx.com\/newenglandtrust.com\/newsletter\/if-you-dont-have-a-will-yet-why-not\/","title":{"rendered":"If You Don\u2019t Have a Will Yet, Why Not?"},"content":{"rendered":"

If you don\u2019t yet have a will, you\u2019re not alone. According to a recent survey by Caring.com, 64% of Americans think having a will is important, but only 32% have one.1 There are many reasons people put off drafting a will \u2014 here are four that you might relate to.<\/p>\n

1. Just haven\u2019t gotten around to it<\/h2>\n

It\u2019s easy to procrastinate when it comes to drafting a will. Even if it\u2019s something you think you should do, it\u2019s probably not high on the list of things you want to do. Perhaps you\u2019re uncomfortable thinking about your own mortality, or maybe you\u2019re worried about how complicated or costly the process will be.<\/p>\n

Focusing on some of the benefits of having a will might give you the motivation you need to get started. A will is a way to make sure your loved ones are cared for and that your last wishes are honored. A legally binding will gives you more control over what happens to your property and helps ensure that your treasured possessions end up in the right hands. You can name an executor or personal representative who you believe will responsibly handle the details of settling your estate. And having a will is especially important if you have minor children and want to protect them by naming a guardian who will best be able to handle the responsibility of raising them.<\/p>\n

If making these decisions sounds daunting, there\u2019s help available. An estate planning attorney can help address your concerns and guide you through the process.<\/p>\n

2. It\u2019s not the right time<\/h2>\n

Too young? Not married? Childless? In good health? Not wealthy enough? People often think it\u2019s not the right time to draft a will, but there\u2019s no better time than now. Most adults have money or possessions that they would like to leave to someone, and waiting until the circumstances seem perfect is risky. Health problems may come on suddenly, and trying to draft a will at that time can be stressful. Even worse, if you suddenly become incapacitated, it may be too late.<\/p>\n

Your life will inevitably change as the years pass, and any will drafted now can (and should) be reviewed and revised occasionally to account for family and financial changes.<\/p>\n

3. Don\u2019t think it\u2019s important<\/h2>\n

Unless you have personal experience with settling an estate, you may underestimate the consequences of dying without a will (called dying intestate). Decisions will be made by the court on your behalf, and your property will be distributed according to the laws of your state. Who is entitled to your assets will depend on those laws, and handling that when there is no will can be especially complicated, time-consuming, stressful, and expensive for your family.<\/p>\n

\n

Motivating Situations<\/h2>\n

Almost one out of four Americans without a will say that nothing would motivate them to get one. Here are the percentages of those without a will who say these situations would motivate them.<\/p>\n

\"Percentage
Source: 2024 Wills and Estate Planning Study, Caring.com (multiple responses allowed)<\/figcaption><\/figure>\n
\n

4. Family dynamics are complex<\/h2>\n

Putting off drafting a will might seem logical when you are facing deep-rooted family issues or complicated situations. Why not just leave it to others to sort out after you\u2019re gone? Unfortunately, not having a legal document that outlines your specific intentions can make an already difficult situation worse. Leaving the disposition of your assets up to the court to decide may have unintended consequences for family members and lead to irreparable rifts or even litigation.<\/p>\n

A will is only part of an estate plan<\/h2>\n

Finally, as important as a will is, it\u2019s just one component of your estate plan. You may need other legal documents such as trusts, powers of attorney, and advance medical directives to fully address your needs. Ask an estate planning attorney to evaluate your individual situation and help you put a plan in place.<\/p>\n

1) 2024 Wills and Estate Planning Study, Caring.com<\/p>\n

This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. \u00a9 2024 Broadridge Financial Solutions, Inc.<\/p>\n","protected":false},"featured_media":1377,"template":"","meta":{"_acf_changed":false},"newsletter-category":[32],"class_list":["post-1376","newsletter","type-newsletter","status-publish","has-post-thumbnail","hentry","newsletter-category-november"],"acf":[],"yoast_head":"\nIf You Don\u2019t Have a Will Yet, Why Not? - New England Trust<\/title>\n<meta name=\"description\" content=\"In Evanston, IL, Robard Flaremoor offers Financial Planning Services & Financial Advice. \u2018Financial Services\u2019 from College Funding to Wealth Protection. \u2018Tax Services\u2019 include Tax Preparation, Tax Reduction, and Tax Management\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging8.dynaserverx.com\/newenglandtrust.com\/newsletter\/if-you-dont-have-a-will-yet-why-not\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If You Don\u2019t Have a Will Yet, Why Not? 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