Making a will is an unpopular activity for many California adults. For others, it’s an act of being a responsible adult, taking control of your personal belongings and caring about your family’s future. Creating a will should be put on top of everyone’s priority list.
The prevalence of wills
It was discovered that 46% of Americans have wills, according to a 2021 Gallup poll, meaning that the majority of the population do not have one in place. Estate planning professionals have brought up the possibility that wills are unpopular.
Reasons for not having a will
One reason for not creating a will is assuming that one will not die soon. Many people assume that it’s better to create a will when they are nearing the end of life. That is why young people tend to ignore creating wills compared to older people. However, advisers believe that it’s best to create a will as soon as possible and regardless of one’s young age.
Another reason for not creating a will is assuming that it involves a lot of paperwork. A valid will can be handwritten or typed using a template, and all you have to do is fill in the blanks. To validate the will, it must be signed in front of witnesses or notarized. The process can be completed in one day. If there is a significant amount of assets involved, it is more convenient to create a living trust.
The importance of a will
Less than half of the U.S. adult population will make a will. This is despite the fact that this document takes only a few minutes to create. You need a will to ensure that your assets are properly distributed to the people and places you choose.