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Interesting Statistics on Estate Planning

Do San Diegans fit the national statistics on Estate Planning?

Alhough there are no statistics specifically for San Diego County, a study done nationally in 2007 found that over half (55% ) of all adult Americans do not have a will or other estate plan. Of non-whites, the lack of a will is even more pronounced:

Only 32% of African American adults have wills Only 25% of Hispanic American adults have wills compared to 52% of white American adults.

The study also found that 41% of American adults have health care directives. This is up from several years ago perhaps because of news coverage about such cases as the Terry Schiavo case in Florida.

Reasons for not doing an estate plan:
1. Ignorance is bliss. 10% say they don’t want to think about dying or becoming incapacitated.
2. Where to begin? 9% say they don’t know who to consult about an estate plan 3. No Assets to worry about. 24% say they don’t think they have enough assets Possible other reasons are procrastination: I know I should do it but don’t seem to get around to it.

If you fall within these categories and do not have a will or a living trust, contact us at Law Office of Scott C. Soady, A Professional Corporation. We offer a complimentary consultation in the office, contact us by e mail.

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