August is National Make-a-Will Month!
And this month, we want to help you get ahead on this important task! Every single one of us needs a will, whether you are 18 or 80 years old. But did you know that almost 70% of American adults don’t have one. There are several reasons people fail to start their estate plans. Here are some common myths that might get in the way of getting your plans in order today – and what the truth really is.
I wrote my will 20 years ago, so I’m set!
Think about everything that has changed in the past 20 years, let alone in the past six months! Have you acquired property? Do you have children? Do your children have children? How about a new pet? Life changes quickly, so it is recommended that you update your will every five years to account for these changes.
I don’t have an estate so I don’t need a will!
You don’t have to own a villa in Europe to need an estate plan. It’s important to have a plan in place for all the things and people that matter to you. This could be anything from who will take care of your social media accounts, or who you want to receive a favorite family heirloom. Without plans in place, it can be difficult and complicated for your loved ones to make these decisions.
Estate Planning is always so expensive!
This has been the case, but now it doesn’t have to be! With FreeWill, writing your will can be free, and completed in 20 minutes or less. If you would still prefer to finalize your wishes with an attorney, use FreeWill to create a list of documented wishes to give yourself a head start and save time (and money!) at the lawyer’s office. You can start your will today!
We hope busting these myths has encouraged you to think about your plans and consider getting started on them today. If you have further questions about estate planning, please reach out to Stacey Efaw at firstname.lastname@example.org today!