Why Estate Planning Is Important for Every American

Thinking about what happens after you die is uncomfortable for many, but not planning ahead can cause serious problems for your loved ones.

Even though a massive $84 trillion is expected to be handed down in the next few decades, only 24% of Americans have a will in 2025 (down from 33% in 2022).

This lack of planning worries lawyers who see families struggle when a person’s wishes aren’t legally documented. If there is no estate plan, families can face stressful arguments, expensive court cases, and outcomes that nobody wanted.
 

What Happens If You Die Without a Will?

If you die without a will, the law decides how your property is divided—this is called "intestacy." The state’s rules often don’t match what people would have wanted.

For example, in New York, if a married parent dies without a will, half the estate might go to the children, which can create serious financial and legal issues for the surviving spouse.

Sometimes, a parent who has just lost their partner has to go to court simply to keep their home. When young children are involved and guardians aren’t named in a will, families might fight over who will care for them.

Life insurance and other money can also end up directly with young adults who may not be ready to manage it.
 

Six Important Estate Planning Documents

A basic will is just part of estate planning. Lawyers suggest having these key documents:
 

• Last Will and Testament: States who gets your things and who cares for your minor children.
• Financial Power of Attorney: Appoints someone to handle your money if you’re unable to.
• Healthcare Proxy: Names someone to make medical decisions if you can’t.
• Living Will: Details your wishes for medical care at the end of life.
• Revocable Living Trust: Helps avoid court process (probate) and controls how assets are given out.
• Disposition of Remains Form: States your wishes for burial or cremation.

You may not need every document, but having none can create risks for your family. Estate planning isn’t just for the wealthy—it’s for anyone wanting to protect their family.

Bottom line: Estate planning isn’t about predicting death—it’s about making sure your loved ones are cared for in the future.

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