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We get regular updates on the Social Security trust fund. In early May, the Social ...

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How Many People Don’t Have A Will In 2020?

March 12, 2020

Every year Caring.com conducts a study to determine where people’s minds are at with regard to estate planning. There are many different questions asked inside this survey that it typically involves more than 2,400 people.

But one of the most important is to determine who already has an estate plan in place. For middle-aged Americans with a will, the study found that there has been a near 25% decrease for people who have this most important and vital estate planning documents.

In 2017, older and middle-aged Americans who participated in the survey reported that over 40% of middle-aged and older Americans reported that they had a will. But only 32% had that same document as shared in the 2020 survey. This is a significant decrease in the number of people who have critical estate planning documents, like a health directive, a living trust, or a will.

The lack of these important documents can be alarming for any family, since estate planning helps to establish multiple goals. A will is also your opportunity to name a person who will be responsible for caring for your minor children or making decisions about your health if you become incapacitated or are unable to do so. The study also found that for Americans earning more than $75,000, only 45% of them in that category had a will in place.

This is also problematic news given that a sudden incapacitation or death could have big consequences for your family and loved ones.        


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can be of assistance.

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Recent Posts
Is Social Security Going To Run Out In Your Lifetime?

We get regular updates on the Social Security trust fund. In early May, the Social ...

The post Is Social Security Going To Run Out In Your Lifetime? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Thriving on the Uncertainties In Investments

We all like surprises, right? Well not exactly. We like the surprises that we want. ...

The post Thriving on the Uncertainties In Investments first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
9 Facts About Retirement

Retirement can have many meanings. For some, it will be a time to travel and ...

The post 9 Facts About Retirement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more