A slight majority of Americans have not drafted their wills, according to a 2016 Gallup poll that put the number at 56 percent. While it shows an uptick from a Harris Poll in 2015 at 64 percent, over half do not have the formal document. Even more alarming, financial professionals claim that a number of those wills are old and likely outdated.
The last thing expectant spouses expect while anticipating the birth of their child is planning that goes beyond the décor of the nursery. However, taking proactive steps can help lessen the impact of increased expenses and plan for a financially secure future.
It is never too early to start an estate plan. However, it can become too late.