A recent study released by a financial services firm found that women are less likely to have an estate plan than their male counterparts.
A total of 72% of women and nearly 60% of men responded that they don’t have an estate plan. The leading reason for many people to avoid creating an estate plan is because of a perception that they don’t have enough money to warrant creating one. Those people who have worked with a financial professional, however, to discuss their individual goals, and what they want to achieve should something happen to them felt more confident about their end of life wishes being respected and their estate plan overall.
The COVID 19 pandemic showed many people just how sudden a change in a medical condition could create problems for family members or even protection for a loved one who wanted to receive or did not want to receive specific care.
With an unclear estate plan, you put your loved ones in a potentially difficult situation as they try to figure out what you wanted or worse, the state makes these decisions for you if there was no estate plan in place.
Consider this an important step to take to make things easier for your loved ones so that they do not have to go through a guardianship or conservatorship proceeding in order to take care of you or address your wishes, should you become disabled, injured or otherwise ill and unable to make decisions for yourself. Talk to an experienced Michigan estate planning lawyer today for more support.