According to a 2020 Caring.com survey, only one-third of Americans have an estate plan. When asked why, most respondents stated that they simply had not gotten around to creating a plan. Others said that they didn’t think they had enough assets to justify an estate plan, that an estate plan is too expensive, or they didn’t know how to get an estate plan.
However, sixty percent of the survey takers stated that they understand that estate planning is important. “This discrepancy between what people think about estate planning versus who actually has a will or living trust shows that while people do know that having these documents is a good idea, they face barriers to actually engaging in estate planning.”
Many people do not engage in estate planning because they would rather not think about their own death (understandable!) or they don’t want to deal with an attorney (I get it!). Plus, the process seems long, boring, and expensive. Trust me, I absolutely empathize with all of these sentiments!
I’m going to do a four-part blog series that tackles each of the barriers people face when getting an estate plan: they don’t think they have enough assets to justify an estate plan, an estate plan is too expensive, and they don’t know how to get an estate plan.
At Bennett & McClammer we strive to make estate planning easy and accessible. You can sign up for a free consultation right from our website. Plus, we have transparent pricing: a basic estate plan is $600 for a couple and $450 for an individual. We make the estate planning process easy and affordable.
Stay tuned for Part 2 of the series!