If you have a will, you fall into the minority. It’s a pretty exclusive club: according to a survey done by RocketLawyer in the U.S., 57% of Americans have no wills; most likely these statistics hold true for Canadians as well. Even more interesting is some of the breakdown:
“61 percent of men do not have a Will versus 53 percent of women
22 percent of Americans over the age of 65 do not have a Will
92 percent of Americans under the age of 35 do not have a will
32 percent of Americans would rather do their taxes, get a root canal, or give up sex for a month than create or update their Will”
What is most shocking to me is the statistic about people under age 35. I may be in the extreme minority, having had a will since I was 18, but it is incredible that so few people of my generation feel a need to protect themselves. The cost of a will is not prohibitive, and many estates lawyers will allow clients to spread out payments over a certain period, on a case-by-case basis. There is so much knowledge out there that there is simply no excuse for not having a will properly drafted, especially if you have children or any assets. What are you waiting for? Make those of us with wills the majority!