Experts say having a will critical to your family’s future
Only 33% of Americans have an estate plan according to a recent survey from Caring.com
InvestigateTV - Having a will is one an overlooked step of life, according to a recent survey from Caring.com. Only 33% of Americans have an estate plan, even though experts said having a will is crucial to successful financial planning.
Patrick Hicks is the head of legal with Trust & Will, an online service that allows you to create estate plans, wills and or trust. Hicks said in the absence of a will family members could be confused or at odds over your estate.
In most states, you can have a will as young as 18 years old. Hicks explained that once you have a will it should be updated it regularly. Changes such as getting married, having a family, or other big life events could alter your plan.
Hicks also pointed out that making a will does not have to be expensive or time consuming. Online sites make it a little bit faster and cheaper, and you can create the estate plans on your own timeframe at sites like Trust and Will or LegalZoom.
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