Short answer – yes, you do! There is a misconception that estate planning is only for the extremely wealthy and its only purpose is to avoid estate taxes. But the truth is that having an estate plan does a lot more than that, no matter how much you have in the bank.
If you haven’t gotten around to completing this “adulting” task, you’re in good company. A number of studies show that at least 60% of adults don’t have a will. [...]