Approximately 55 percent of American adults do not have a will or other estate plan in place, according to LexisNexis. This number has stayed relatively steady during the 2000s.
I know a family whose son died intestate (without a will). It was exceedingly difficult for them. It went on for years. His house had a mortgage, he had owned and ran a business, he had business equipment, furniture, all the stuff one normally owns. Without a will, his family could not claim anything or even help the lawyers, because they had no legal standing. The house was sold by the mortgage company.
He knew he had cancer for two years and did nothing to take care of his estate.
He was an intelligent person, but did nothing in this regard. And 55 percent of American adults do not have a will or other estate plan in place, so he was not alone in this issue.
So, where are you in this concern? If you are one of the 55 percent, as a friend I urge you to see a lawyer now. Please do not go to Legal.com. That will just create more problems.
There are about four other documents that need attention as well. Happy planning,