Millennials Start Writing Their Wills

Just under half of Americans, 46%, have a will, with people 65 and older mostly likely to have one, according to a survey by Gallup. The overall percentage of Americans who report having a will has been relatively stable since 1990, according to Gallup.

Millennials are saying, “let me plan now as I’m not going to live forever.”

The cost for a lawyer to create your estate plan is dependent on several factors: the number and type of documents; size of the estate and complexity of the family situation; the nature of assets; and the jurisdiction in which it is being prepared.

Not having a will can be a catastrophe in some situations. For instance, if beneficiaries with special needs inherit funds outright rather than in a supplemental needs trust, that inheritance can cause them to lose government benefits that may be essential to their quality of life.

Some younger people are even encouraging their parents to create wills.

The last gift you leave your family is a plan that is organized so they can properly grieve instead of hunting down paperwork and signatures.