Why Having a Will Matters – and Why So Many People Don’t Have One
Care.com’s 2019 estate planning survey revealed a surprising statistic: 57% of U.S. adults do not have a Last Will & Testament. The likelihood of having a Will varied by age, race, and education level.
Generationally, 66% of adults age 65 and older—Baby Boomers and the Greatest Generation—have a Will, well above the national average. In contrast, only 39% of Generation X and just 18% of Millennials reported having one, far below average.
When asked why they didn’t have a Will, the top answer—given by 52% of respondents—was simple: “I just haven’t gotten around to it.” Another 22% said they didn’t think they had enough assets to justify creating one. Only 6% cited cost as the reason, making it one of the least common excuses.
The Misunderstanding About Wills
Many people believe a Will only matters if you own significant assets. This misconception leads younger adults and those with modest estates to put it off. But a Will does more than just transfer property when you die. It ensures someone you trust is legally authorized to handle your affairs. It also avoids confusion and conflict during an already difficult time for your loved ones.
And the truth is, anyone can pass away unexpectedly. You likely own more than you realize—bank accounts, personal belongings, vehicles, digital assets—and someone will have to manage them.
Why Parents Especially Need a Will
If you have a minor child, a Will is absolutely essential. This is where you legally name a guardian to care for your child if you pass away. If the child’s other parent is alive and retains parental rights, the child will stay with them. However, if the other parent is deceased or no longer has parental rights, your chosen guardian in your Will can petition the court for custody. This helps prevent family disputes and ensures your child is cared for by the person you trust most.
Since you’re already creating a Will, it’s also the perfect opportunity to specify who should inherit your assets, no matter how small.
Getting Professional Help
Creating a Will doesn’t have to be complicated. When you work with experienced attorneys like us, we guide you through every step. Whether you already know exactly who should care for your child or you need help deciding, we provide compassionate support and legal insight.
Don’t wait. Protect your family and your wishes today. Call us at (207) 848-5600 or visit our CONTACT page to schedule a consultation.
