During the pandemic, more and more Americans were writing wills. Now they are refusing to do so.
Research shows that fewer and fewer Americans are making wills, indicating that they have become less concerned about death as the pandemic has waned. Only 32% of adults reported having a will in 2024, down from 34% in 2023, according to a 2024 study by Caring.com, an online platform for senior care. This figure has seen a slight increase since 2020.
Most estate planning specialists have noticed a surge in requests for wills and trusts during the pandemic, when many Americans were locked down at home and focused on their health. Now that the pandemic is beginning to wane, Americans' attention has shifted.
The worsening situation with will drafting is bad news for the survivors. Experts claim that almost everyone should have an inheritance plan, especially if they have children or property. People who die without a will can leave their loved ones facing inheritance issues in court.
In any case, everyone should have a will.
Those who die without a will can leave significant issues unresolved: who will take care of the child? Who will inherit the house? Some assets are difficult to divide among heirs.
In the case of death without a will, the state intervenes. In a will, a person specifies how to distribute their property and other assets after death. But if someone dies without a will, local courts take control of the estate.
In a situation with relatively simple inheritance - for example, a spouse, a few children, and a small list of assets - a person might think that they don't need a will. However, inheritance laws vary, and it can be difficult to predict who will receive what.
The necessity of a will is being discussed, and each case requires an individual approach.
Comment
Subscribe to the newsletter from Hatamatata.ru!
Subscribe to the newsletter from Hatamatata.ru!
I agree to the processing of personal data and confidentiality rules of Hatamatata