When most of us start planning for retirement, we think about things like what our living costs will be and how much money we’ll have access to. Many of us, in fact, get so focused on how much we are or aren’t saving that we fail to make one critical move: creating a will or living trust.
In a recent Caring.com study, 58% of American adults admitted to not having either type of crucial document in place. Even scarier, among adults with children under the age of 18, that figure climbed to 64% of folks without a formal estate plan.