Many people in Georgia are planners — they plan for future vacations and for their retirement, for example. However, despite the tendency of many people to plan, a recent survey indicates that many Americans do not have estate plans, specifically wills. Equally as important, many estate planning documents already created are actually out of date.
The survey divided the findings into age groups. The youngest age group, including ages 18 to 34, were the least likely to have a will, with only 18 percent reporting they had a will. Of that number, there is a 32 percent chance that the will created is out-of-date. The next age group examined adults who were 34 or older, and just under half of this group indicated they have a will, with 15 percent indicating theirs was out of date. Most concerning for surveyors was that respondents who were 65 or older were most likely to indicate that their will is not up-to-date.
Professionals with knowledge of such documents argue that having a will that has not been updated is, in some cases, equivalent to having no will at all. Major life events, such as marriage or the birth of a new child, often necessitate revisions. By doing so, a person can ensure that his or her interests, as well as those of their loved ones, are protected.
While wills can be created online or through the use of do-it-yourself software, mistakes can be made through these options, often leaving ambiguity surrounding a person’s wishes. To reduce the likelihood of a successful challenge, people in Georgia often turn to the guidance of an experienced estate planning attorney. Such a professional can help ensure that estate planning documents are both up to date and enforceable.
Source: news4jax.com, “Majority of Americans don’t have an up-to-date-will“, Bruce Hamilton, June 29, 2016