Writing a will is arguably the most effective way to cement your legacy. After all, with a legally valid will, you can leave assets to those who mean the most to you. After you die, your loved ones can enjoy your gifts while remembering you fondly.
According to Gallup, fewer than half of Americans have completed a will. Because of the obvious advantages of writing a will, this statistic can be difficult to comprehend. Nevertheless, Americans cite a variety of reasons for putting off estate planning. Here are three bad reasons.
1. You do not have the time
Drafting a will can take a bit of time. If you seem to be busier than ever nowadays, it might be tempting to put your will on the back burner. Yet, if you die without a will, your loved ones are going to face a long and difficult process to settle your estate. They even might miss out on the assets you want them to have.
2. You do not have enough assets
Will writing is not something only wealthy individuals do. Regardless of your wealth, it is advisable to have a current will in place. After all, in addition to dividing up your assets, your will can accomplish other objectives, such as naming a guardian for your children.
3. You do not know where to start
Because wills are legal documents, writing one can be somewhat intimidating. You even might not know where to start. Like with other projects, getting started with writing a will requires thinking about your goals and ideals. Once you know them, putting pen to paper might come easier.
Ultimately, regardless of why you are waiting to write a will, there really is no time like the present to get your affairs in order.