Fewer people have wills in 2020 than in 2019, according to a new survey by Caring.com – over 50% of American adults don’t have a will. When you’re young and healthy, you don’t expect your death to leave your family unprotected. The tragic helicopter crash involving Kobe Bryant that killed all 9 onboard made young adults realize it can happen to anyone, any time.
When you die without a will, it’s called dying intestate. An up-to-date will is the best way to tell your family and loved ones how you want your estate handled, and to legally make sure your wishes are carried out. When someone in Illinois dies without a will, the state will determine how your assets will be distributed.
There are 4 key reasons people give for not having a will, according to the survey:
1. I haven’t gotten around to it yet.
35.7% of adults without a will in 2020 said they haven’t gotten around to it yet, versus 47% in 2017.
2. I don’t have enough assets.
30.4% of adults without a will said they don’t have enough assets to create a will.
3. It’s too expensive.
6.8% said they don’t have a will because its too expensive to set one up. Less than 50% of people making $80,000 or more have any estate planning documents.
4. I don’t know how.
6.3% of adults in 2020 said they don’t know how to make a will, an increase from 4% in 2017.
Making a will doesn’t have to be difficult. An experienced estate and probate lawyer can guide you through the process so nothing is overlooked, and you can be sure that your will complies with Illinois probate laws. To talk to a probate, trust and estates attorney. Contact the Estate & Probate Legal Group at (630) 382-8063.
