In a survey done by Lawyers.com the respondents gave the following answers as to why they do or don’t have an Estate Plan.
Only 51 percent of adults have Estate Planning Documents.
The 49% who didn’t have plans, gave the following reasons:
44% Time, need to focus on paying my bills.
30% Estate planning is not one of my concerns.
20% The children will get it automatically.
19% Lawyers are too expensive.
11% It isn’t required.
9% Takes too much time.
I’ll bet the respondents would have been very upset if the state had taken their parents estate, because they hadn’t planned ahead.