Do you have a will? Chances are you answered no to that question.

Not surprisingly, younger people are even less likely to have a will, the FindLaw survey finds. Of those between the ages of 18 and 34, only one in six have a will. As we get older and more affluent however, the numbers change. For those over 55, the majority do have a will. It is also interesting to note that the numbers of people lacking a will have been remarkably consistent since FindLaw.com began measuring the prevalence of wills in 2001.

If you have children, a will is a necessity. It’s crucial for dealing with money for their care and for naming legal guardians.

State laws around wills differ and some legal requirements in one state may not exist in others. In general a will must be a witnessed document, written and signed by a person of sound mind. It is a good idea to talk to an attorney who specializes in estate planning about a will, especially if you have large or complicated assets. It may not be the discussion you look forward to the most, but you will be glad you did it.

Related Resources:

  • What Not To Include When Making a Will (FindLaw)
  • Kinds of Wills (FindLaw)
  • Inheritance Law and Your Rights (FindLaw)
  • Estate Planning and Undue Influence (FindLaw’s Law and Daily Life)

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