Estate Planning: What’s Holding New Yorkers Back?

Hey New Yorkers! Did you know that nearly half of Americans, including many in our very own state, haven't taken the time to set up estate planning documents like wills or living trusts?

I'm guilty of this and I really need to do something about it. How about you? A recent survey conducted by CreditCards.com found out why so many people are putting this off.

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One of the reasons is that we don't feel like our assets are where they should be. We haven't gotten around to putting together an estate plan because we feel like we don't have enough to begin with. Why put together a plan, if there isn't much there to begin with. I know, BAD IDEA!

One out of three people in debt who haven't started their estate planning, say that their debts, especially the crummy credit card bills, are the main reason behind their procrastination. Procrastination may be a great excuse but it certainly isn't the right answer.

Political drama and health scares seem to be having a say in how some people are approaching their estate planning. Inflation and public health concerns are leading the way in making people think about how they want to handle their assets and future plans.

As New Yorkers, it's important to be informed about how these issues can affect our estate planning decisions. Let's make sure we're not missing out on securing our future and protecting our loved ones.

Remember, the ones that will get hurt the most, are the people that we care about the most. Doesn't make sense now does it, but that is what we are doing by putting it off.