The annual survey put out by Hearts & Wallets identified that in a survey of more than 5,000 adults, individuals who are in their late career or pre-retirement and believe they will be retiring in the next 5 years have issues with retirement planning, investing and estate planning.
More than half of these individuals were concerned with how to properly plan for retirement, which has become increasingly important as a result of the fact that longevity is increasing in the United States.
Estate planning, however, is also a major issue for those involved in the study. According to the research, estate planning confusion was the only one that had a higher percentage in 2016 than the year before. More than 25% of individuals who participated in the study said that estate planning was very difficult or somewhat difficult for them.
Only 8% of retirees and those pre-retirements said that they sought out help for estate planning in the previous 18 months, however. Many people are very uncomfortable about the topic and this discourages them from setting up a meeting with an experienced and knowledgeable estate planning lawyer in Massachusetts.