While most California residents have heard about the importance of writing a will, the majority of residents have yet to write one. Research has shown that only 40% of people across the United States have completed their wills. Some people have given up on a will altogether while others claim that they’ll write one later in life.
What keeps most people from writing a will?
A large percentage of people avoid estate planning because they don’t want to deal with the hassle. Estate planning can be a long and stressful process, particularly if you have a large estate worth a significant amount. An estate planning lawyer may help you make the process easier.
Some people claim that they don’t have enough assets or don’t have any beneficiaries. If an individual is single and childless, they might feel like they don’t have anyone to leave an inheritance. If they do have dependents or beneficiaries, they might feel their estate is so small that there’s no point in writing a will. Many people don’t realize that they could benefit from writing a will even if their estate is only worth a few thousand dollars.
Other people don’t want to write a will because they believe the process is too expensive, or they simply don’t know how to write one. While writing a will can be challenging, anyone can hire an attorney to get a wealth of resources at their disposal.
Does everyone need a will?
If you only have a few assets, you might think it’s safe to assume that you don’t need a will. However, if you don’t write a will, you’ll have no control over what happens to those assets when you die. Instead of letting the state distribute your assets, you can take some time to divide them up among your friends and family members in a legal document.