Many Boomers Don't Have Wills, Poll Finds

 

Who wants to think about death, particularly your own? Drafting a will is an unpleasant task, so startling numbers of Americans say they never get around to it.

A  new survey finds that 41 percent of boomers (born 1946 to 1964) and 71 percent of people under the age of 34 don't have wills. Procrastination was cited as the biggest reason (34 percent), followed by feelings that it was unnecessary (22 percent)   or too expensive (21 percent).

Don't tell Fido, but 61 percent of 600 people polled say it's not important to provide for their pet in a will.

It makes sense to draw up a will. That way your heirs will avoid probate fees that otherwise could cost up to 10 percent of what you're leaving them. And it will defuse many potential arguments between those heirs. It's also important to create a  health care directive so that family members know what to tell doctors if a medical crisis leaves you unable to communicate.

The findings of a separate Associated Press-LifeGoesStrong.com poll released last November were even more surprising:  64 percent of 1,078 boomers surveyed say they don't have a will or health care directive. For the most part, respondents say they just don't want to think about death.

Photo credit:   Ken_Mayer via Flickr.com