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Statistics show interesting trends in estate planning in America

On Behalf of | Mar 5, 2024 | Estate Planning News

The estate planning process probably has a reputation for being one of those types of tasks that can become confusing in a hurry. In some cases, that is true. And, in fact, this is one of the reasons why many people put off the entire estate planning process completely, oftentimes waiting until the proverbial last minute before getting something on paper. A recent news article noted that, apparently, the number of people in America who have actually taken the time to address this task has dropped for the first time in four years.

The article noted that in 2024 a recent survey found that only 32% of people in America have a will in place. That represented a 6% decline from 2023, and the first decline in overall percentage since 2020. And this comes even as the same survey results found that over 60% of Americans believe that having a will in place is important.

The sheer number of estate planning options that might be available to any given Denver area resident may be one of the reasons for a delay in estate planning. Or, some may think that they simply do not have enough assets to justify having an estate plan in place. Or even further, some people simply do not care what happens to their assets after they die.

Getting a plan in place

Fortunately, once a person understands how important estate planning can be, it isn’t too difficult to find a comprehensive approach that is right for that person’s financial and family situation. Getting an estate plan in place can give you peace of mind and help your loved ones deal with difficult issues after you are gone.