Everyone needs a will, but less than half of American adults have one. The young think they’ll live forever. Or they don’t have any wealth to worry about. But if you have a child or own a home, you need a will.
A May 18, 2016 Gallup poll found 44% of all adults had wills. But likelihood depended on age, education, and economic status. The percentage rose to 75% of upper-income (above $75,000 per year) college educated Americans 55 and older. That’s good news.
In Part I we named two reasons older adults might not have a will: (a) we can’t bear to contemplate our own death; and (b) we can’t decide how to distribute our wealth. Here are other reasons:[Read more…]