Law Office of DeAnne E. Parker
Redding Probate, Trusts, Estate Planning And Business Attorney

People think wills are a good idea

According to a recent survey, over 3 out of 4 people across the country acknowledge that having a will is a good idea. However, only 40 percent of those asked actually had a will. Perhaps, not surprisingly, those over 65 were the most likely to have a will. The survey estimated that about 2 out of 3 people in this age group had taken the time to at least do some simple estate planning.

By contrast, fewer than 1 out of 5 adults under the age of 34 had a will, only about one in three adults between the age of 35 and 44 had a will. The reasons why Californians do not create wills varied, but around half of all those surveyed said that they just had not found the time to create one.

Another 22 percent of respondents said that they did not think they had enough assets to justify creating a will, while another 12 percent either indicated that they were not sure how to start the process or did not want to pay hefty expenses associated with creating an estate plan. While it is true that younger people usually do not have as many assets as their parents, this does not mean that they should ignore the estate planning process.

As this blog has discussed before, estate planning can accomplish many goals. For example, a couple with minor children may use a will to suggest appropriate arrangements for their children should they both die unexpectedly. At a minimum, even a simple will can head off any confusion over how a San Jose resident wanted his or her assets divided.

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