Fewer of us are writing wills, a new survey says, a finding that suggests Americans are worrying less about mortality as the pandemic fades.
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A downturn in wills could be bad news for survivors.
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Someone who dies without a will might leave big questions unanswered: Who cares for a child? Who gets the family home? Some assets are tricky to divide among multiple heirs.
“People with children should probably have a will. People with minor children should probably have a will, just to determine who will take care of them,” said Gal Wettstein, a senior research economist at the Center for Retirement Research.
But estate planning takes time, and it usually costs money. It’s complicated, but needlessly so, some experts say.
“This is more complex than most people understand, and more difficult than it needs to be,” said Steve Lockshin, co-founder of Vanilla, an estate planning software company.
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[Daniel de Visé, USA Today]
USA Today