Rainbow Law recently surveyed LGBTQ adults and found a significant disconnect between their ideals and their actions when it comes to preparing for their deaths. While 60% of those surveyed said they believe all adults should have estate plans, only 44% said they have one. Why? According to the survey, the chief reason people can’t think about tomorrow is because they’re too stressed about today, trying to pay bills and buy groceries. Secondly, they said they don’t have estate planning documents because it is too complicated to deal with right now.
What would motivate them to get going? Well, 75% said they would be more likely to create or update their will if there was an easy, valid way to do so online.
Of particular note was the fact that women and younger folks (ages 18 to 34) are more likely to be concerned about maintaining their weight than protecting their financial assets. The the under-35 demographic also said that it is less important for people to have wills because people are living longer, healthier lives.
It’s not just college kids and young adults who have no real sense of urgency about estate planning, though. More than a third of those surveyed who have children under 18 said they don’t believe that wills or estate planning documents are one of the most important documents to have in place. What mattered to them? Birth certificates, and titles and deeds for property and vehicles topped their lists.
Furthermore, despite the fact that plenty of people know that without a will, a court decides who becomes a child’s legal guardian if both parents die, only 39% of those surveyed with minors in their households have estate planning documents, and 13% believe that their spouse and children will automatically receive the assets they have in the event of their deaths.
Individuals and couples – married or not – need to make getting a will a priority. Rainbow Law makes it so easy and affordable to do it – right now.
What’s important is to start the conversation. Don’t be afraid to discuss it: Ask friends and family who have done this already. Call Carrie Stone or Elisia Ross of Rainbow Law. We are here and happy to answer your questions – free of charge. Why go it alone?
The bottom line: People are busy living their lives and do not want to think about their mortality, yet, estate planning is not about you. It’s about ensuring the best possible future for your family and your loved ones.
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Don’t forget to tell your friends that Rainbow Law makes free & affordable wills, deeds, trusts, advance directives, agreements and other legal documents designed to protect the rights and relationships of LGBT couples, parents and single people! Oh yes, and we also make ’em for straight individuals and families too!
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