A recent article in the New York Times highlighted the psychological barriers to creating an Estate Plan. “No one likes to think about dying – and that is probably one reason most Americans lack wills.”
https://www.nytimes.com/2017/02/08/business/how-to-make-a-will.html?smid=fb-share&_r=0
The likelihood of having a Will, or other Estate Planning documents increases with age. Only 20% of millennials (ages 18 to 36) have a will, yet 81% of those over 72 have one.
Many use the excuse that they just haven’t had the time to take care of this important item, however, more likely is that it is extremely hard for people to consider their own death – never mind imagining what would happen to their family and personal possessions.
For adults with children under the age of 18, the percentage of people who have an estate plan is only 36%. Yet an important function of a will is for parents to name a guardian to care for their children.
The Heritage Law Center was founded with the sole purpose of working with families to help them understand the wisdom of planning ahead for life events. We offer approachable, practical guidance based on our clients’ personal financial and family situation, and driven by their individual goals.
For some, a simple will is all it would take to avoid a costly and chaotic situation if an unexpected death were to occur. For others, more comprehensive planning can head off excessive estate taxes, bureaucratic probate entanglements or support complex family situations.
We encourage you to work through the psychological barriers that may be preventing you from taking the necessary steps to discuss what is best for your family.
Contact us for a no-obligation consultation today at 617.299.6976 or mkarr@maheritagelawcenter.com.
