pet
Americans would rather inherit a pet from a loved one than a car, according to a new study.
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Americans would rather inherit a pet from a loved one than a car, according to a new study.
A survey of 2,000 U.S. adults found that the top asset respondents would like to inherit someday is a home or real estate (65%), followed by a four-legged friend (59%) and money (58%). ing.
Just over half (53%) would like to be given away collectibles or cars.
Still, one-third (32%) of Americans have no idea what will happen to their assets when they die.
Conducted on behalf of OnePoll trust and willthis survey looked at how Americans are planning for their digital future.
Americans manage their health and healthcare (58%), finances (52%), estate planning (51%), and even relationships and friendships (52%) digitally.
In fact, 64% prefer using digital banking platforms to manage their finances over traditional in-person banking methods (24%).
Every year, Americans electronically, or digitally sign something, an average of five times. In the past year, these items include medical services (56%), offer letters (47%), sales contracts (43%), and estate planning documents, including wills (43%). I did.
Digging deeper into future plans, a similar number of respondents said they had a will (45%) or were included in someone else’s estate plan (46%).
Half (51%) expect their loved one to inherit something when they pass away, with respondents clearly preferring valuable heirlooms over sentimental items (44% vs. 27%) %).
Two in five respondents admitted that they would be jealous of a family member who inherited more than them.
And the old saying, “You can’t take it home,” seems to have lost a bit of its appeal. Respondents would rather save for future generations than spend it all during their lifetime (47% vs. 30%).
When asked what is the most sentimental thing that you want or have inherited from a loved one, the answers range from “my father’s ring” to “my mother’s watch” to “something my father gave me that was very important and personal to him.” There were various coins. ”
For others, it goes even deeper. “Look at photos of special moments with your family and reminisce about simple times and fond memories.”
“In today’s technology-driven world, it’s important to transform the traditional, complex estate planning process into a user-friendly, fully customized digital experience. 64% of Americans now use digital platforms to manage their finances. The preference for control is compelling,” said Kodi Barbo, founder and CEO of Trust & Will. “The importance of planning for the future and ensuring the care of a loved one should not be lost in complexity. We are committed to removing barriers that prevent families from creating a legacy. We are actively supporting legislation that allows people to digitally create and sign estate plans end-to-end.”
More than half (59%) of respondents correctly identified the difference between a will and a trust.
But when it comes to actually identifying what is included in a will, Americans are less informed. Most people agree that wills typically include beneficiaries (65%), instructions for when and how beneficiaries will receive assets (58%), and an executor (53%) I know.
However, some people mistakenly believe that a will also includes information about who has legal rights to your assets during your lifetime (41%) and even your debts (23%). Not true.
“These results highlight an important insight: While a significant portion of Americans can distinguish between wills and trusts, there are clear knowledge gaps about the specifics of each,” Balbo added. “It is important to note that these documents are not mutually exclusive. Utilizing both wills and trusts creates a robust and comprehensive estate plan, ensuring that every aspect of your estate is aligned with your wishes.” This ensures that your assets are processed according to the rules and efficiently distributed to your heirs.”
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