Why You Need a Will Now More Than Ever
Recent surveys continue to show that far too many Americans are unprepared when it comes to estate planning. A 2024 Caring.com Wills Survey found that fewer than one in three U.S. adults have a will or living trust in place. While that’s a slight improvement since the COVID-19 pandemic, the overall percentage has declined compared to previous years. Many people acknowledge the importance of having a will, but a large portion admit they’ve done nothing about it.
The pandemic highlighted how quickly life can change, yet even after COVID-19, procrastination and lack of awareness remain the biggest reasons people delay creating a will. Interestingly, younger adults are now more likely to create estate planning documents than older generations—a reversal of traditional patterns.
Common Reasons People Delay Creating a Will
- Procrastination: Many assume they’ll “get to it later,” often waiting until health issues arise.
- Lack of understanding: Some believe wills are only for the wealthy or don’t know how to start the process.
- Misconceptions about cost and access: Many are unaware that attorneys can create wills and other estate planning documents remotely, making the process more convenient than ever.
The truth is, almost everyone owns something of financial or sentimental value worth protecting—whether it’s a home, savings account, family heirloom, or even digital assets like photos or social media accounts.
What a Will Can Do for You
A valid will is the foundation of a good estate plan. It allows you to:
- Direct who inherits your property — including real estate, bank accounts, investments, and personal belongings.
- Name guardians for minor children — ensuring you decide who will raise your children instead of leaving it to the courts.
- Protect your spouse or partner — especially important for blended families or non-traditional households.
- Disinherit individuals — such as estranged relatives, if that is your choice. Without a will, state law decides who inherits your assets.
- Reduce family conflict — by clearly outlining your wishes and avoiding disputes among heirs.
What Happens Without a Will (Dying Intestate)
If you die without a will, your state’s intestacy laws determine how your assets are distributed. This often results in:
- Assets going to relatives you may not have chosen.
- Courts deciding who will raise your children.
- Family disputes, delays, and added legal costs.
In short, without a will, you lose control over some of the most important decisions in your life.
Estate Planning Is More Than Just a Will
While a will is essential, it’s only one part of a comprehensive estate plan. Other important documents may include:
- Healthcare directives to outline your medical wishes.
- Durable powers of attorney for financial and healthcare decisions.
- Trusts to protect assets, avoid probate, and plan for special circumstances such as caring for a child with special needs.
Don’t Wait to Protect Your Loved Ones
Most experts agree that by the time you’re in your mid-30s, you should have a will in place. Yet surveys show more than half of Americans still put it off. Creating a will ensures your wishes are respected and your loved ones are protected—rather than leaving these important decisions up to the courts.
At Aging in Maine, we can help you determine whether a will is right for you and draft supporting documents that make your plan complete. Protect your family, your assets, and your peace of mind.
📞 Call us today at (207) 848-5600 or visit our CONTACT page to get started.
