Even though almost three-quarters of Americans say that having an estate plan that includes a will or a trust and a living will is important, less than half (46 percent) actually have an estate plan in place. Slightly less than that (45 percent) have a living will, which dictates how an individual’s medical decisions will be handled in the event of incapacitation.
As you might expect, those older than 65 are most likely to have a will, with about 76 percent having some level of estate plan. Only about 20 percent of those under 30 have an estate plan. Planning for the future can be overwhelming, but with the guidance of an experienced Lisle, IL estate planning attorney, you can experience real peace of mind.
What Should Your Estate Plan Include?
Your estate plan will depend on your age, situation, and the level of assets you own, as well as whether you have a spouse and/or children. Although this is a popular misconception, virtually everyone can benefit from an estate plan, not just the wealthy.