The COVID-19 pandemic has caused many individuals to evaluate their future—however, this realization has come in different forms depending on an individual’s age. For the first time ever, young adults are now more likely to have an estate plan than older adults. And many of these young individuals cite the pandemic as the reason they created a Houston estate plan.
In a recent survey, 1 out of 3 people said the pandemic caused them to see the need for an estate plan; however, 30% of these people did not take any action. Below are reasons why the survey respondents said they did not have a will in place—and ultimately why these excuses should not stop an individual from drafting an estate plan.