It is never easy to start planning for the time when you won’t be around. Leaving estate planning for later is the easy path but that just means that the problem is still there, maybe until it’s too late. It’s essential to recognize the reality of life and put your affairs in order.
Recently we stumbled upon a survey made by Caring.com related to Estate Planning. The results were surprising. Even though people are aware of the consequences of lost wills and lost life insurance, they are still resistant to taking care of their own plans. It’s understandable because, let’s be honest, no one wants to really face the fact that their final day will someday come.
Let’s take a look at the survey data:
1. Only 42 percent of U.S. adults currently have estate planning documents such as a will or living trust.
2. Only 36 percent of adults with children under the age of 18 have an end-of-life plan in place.
This means that 6 out of 10 Americans might lose assets or leave their families in the dark. Their pets might end up in a shelter or the lack of information might cost their family many thousands in lost life insurance.
What you can do?
It can take only a couple of hours to get most of what you need in good order for your family if you use AfterVault.com or some other service as a guide. Nowadays you can easily create an online will with LegalZoom or another such service and then securely store everything in a digital vault where you can share it with others in your family and leave special instructions or messages.
But, most importantly, we need to recognize that our actions will help the people we care for and our lack of action is likely to cause them hardship and trouble when they are least able to cope with it.
In this article we included the infographics provided by Caring.com. AfterVault wants to help them spread awareness about this important topic and make sure there are fewer families without a plan.