Tuesday, December 7, 2010

Survey: Only 1 in 6 Americans Between 18 and 34 Have A Will


Interesting survey results listed below about the lack of estate planning by the majority of adults in the United States...

EAGAN, Minn., Dec. 1, 2010 /PRNewswire/ -- The majority of Americans don't have a will, according to a new survey by FindLaw.com, the most popular legal information website. Fifty-five percent of American adults have not written a will, giving them little control or input into issues such as what will happen to their assets and any minor children after they die.

A will is a basic component of estate planning. Among other things, it specifies how your assets will be distributed after you pass away, and who will receive them. Without a will, the laws of the state and the decisions of a probate court may determine how your estate is distributed, who will care for your children if they are minors, and so forth.

The situation is particularly prevalent among younger people. Only one in six people between the ages of 18 and 34 have a will for estate planning. As people get older, they are more likely to have a will. The majority of people 55 and older have a will. The survey findings that the majority of Americans lack a will have been remarkably consistent since FindLaw.com began measuring the prevalence of wills in 2001. Read more here...

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