FAMOUS PEOPLE HAVE ALL THE ANSWERS - OR DO THEY?

Abraham Lincoln

Pablo Picasso

Martin Luther King, Jr.

Kurt Cobain

Howard Hughes

Bob Marley

What do all of these people have in common?

They all died without a will.

Over half of Americans don’t have a will.  Actually, according to a Rocket Lawyer survey, 64% of Americans do not have a will.  That number rises to 70% for those between the ages of 45 to 54.

It’s not a particularly fun topic to ponder - what happens when I die?  I get it.  Who wants to think about our mortality?  While I would love to tell you I’ve found the fountain of youth or some elixir that can prevent the inevitable, but the fact remains - none of us are getting out of here alive.  (Sorry.  I work in an arena of death - you have to find the humor in things, right?)

For almost 20 years, I have been preparing estate plans and speaking with clients and the first statement I usually hear from the clients is, “I’ve been meaning to do this for years.”  Others I have spoken with state they just don’t believe it’s an urgent matter.  We all believe we have time.  I hope we all have more time than we think but the reality is - life happens and so does death.  My dad died at 28.  He left behind a wife and two daughters who were only 2 and 4 at the time.  I’m certain my dad never considered a will and certainly thought he had time.  But, things happen.

My hope is that we all get the chance to live long, wonderful lives and our estate plan is not implemented for many years to come but as much as I wish this for everyone, I also hope that each and every family who does have to endure a loss does not have the added challenge and expense of having to deal with an estate without a plan.  You love your family and you’ve worked your entire life to build up your assets.  It is one of the most important steps you can make to set up how everything you’ve worked your life to build is distributed. 

An estate plan is something we should consider sooner rather than later.  Once an estate plan is done, it’s done.  You might make a change here or there over the years but overall, you can rest assured you’ve taken the time to do what is best for your family.

Amy K. Nett, Esq., Managing Partner

The Law Offices of Nett & Nett, PC

May 2022