86% Of Estate Planning Documents Don’t Get Finished [Video]
by Financial Design Studio, Inc. / March 10, 2020
Recently I heard a statistic about how estate planning documents don’t get finished. They showed the percentage of documents that never get done.
This percentage was 86% of estate planning documents never get finished.
What this means is if you get those documents drafted, that could be a will, trust, or power of attorney, you are saying I want someone to take control when I pass away or become incapacitated. These documents are so important in these situations.
This statistic says that 86% of those people that start, never finish. They never actually sign them. That is really what puts this as a priority. You can have them beautifully drafted and they say what you want, but if you never sign them, then they actually aren’t enforced.
With this being such a high statistic it reminded me of when I was at a business strategy workshop for a week. One of the other people who was there brought up this great list of strategy and options to help their business move forward to help them succeed. Their concern was actually that they wouldn’t follow through with everything they were planning.
They were concerned that they would go home and have good intentions to finish it, but they wouldn’t actually do it.
This is something that can be common. When you start out, you mean well, but you never actually finish it. I thought this is a very high number, but I can see how it would be true!
Instead of you being a part of this statistic, we really want to help you move forward with your goals. Estate planning documents are very important to have in place and are an essential part of your financial plan. Making a plan and setting some goals and actions you can actually accomplish is what we can help you with. Contact Financial Design Studio, Financial Advisors in Deer Park.
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