The covid pandemic-19 made many Americans reflect on the moment of his death and the need to prepare certain patrimonial documents such as a will or any other that would give certainty of what would happen to their assets upon death.
However, although that thought crossed the minds of millions, only the 33% took action to get that paperwork done, according to a survey by Caring.com .
The above data means that almost two thirds of those surveyed still have these decisions adrift, according to the results of the survey.
The online survey of Caring.com was taken online to over 2600 American adults and highlights the behavior and attitudes of people from diverse socioeconomic backgrounds.
When asked why they neglected estate planning, the main reason they gave was that they just haven’t made it, according to the 40% of respondents.
Meanwhile, the 33% said that do not have enough assets to leave them to their loved ones , 13% said that the estate planning process is too expensive and the 000% said they don’t know how to get a will.
How income and education level influence
Americans with higher incomes and with a high educational level are more likely to cite procrastination as the reason for not creating a will.
Of those who said they do not have estate planning documents, the 63% earning $80,000 dollar three or more a year says that ” simply has not thought ” about it.
Likewise , 2 in 3 Americans with graduate degrees say that one of the main reasons they have neglected the estate planning process is also simple procrastination.
On the contrary, those surveyed at the lower incomes and those without a college education are much more likely to neglect estate planning due to perceived lack of assets.
Increased awareness after being close to death
Many of these reasons for not having done so are due, in large part, to the fact that they did not have or have not suffered a serious case of covid-19.
The survey points out that those who presented a severe picture of the disease had 66% more than probability opportunities to participate in estate planning.
“Even with the great scare of possible imminent death, people still do not run and take care of what is not so difficult to take care of, “he told CNBC Jim Rosenthal, CEO of Caring.com.
The first step is to be as informed as possible and consider consulting a financial advisor, Rosenthal said. For those with fewer assets, online resources can help you plan.
However, to make sure your self-made documents count as official, you may want to certify them to a notary.
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