Did you know that, according to Legal Zoom, an estimated 50 to 60% of all Americans lack a will? While the COVID-19 pandemic has, for unfortunate reasons, made it apparent to many that a will is necessary, a surprising amount of Americans still don't have any plans to draft a will in the near future. It's easy to see why. People are uncomfortable with the idea of dying and don't like to dwell on it. They associate estate planning with dwelling. But the reality is that a lot of issues can be handled if you begin planning your will as soon as possible. Let's look into some of the reasons why you should begin estate planning sooner rather than later.

1. You Have Kids

This is probably fairly obvious. But the fact is that you should begin estate planning sooner rather than later if you have children. This is because your estate planning process doesn't just have to do with ensuring that your assets are divided as you wish. It also has to do with planning what will happen to your children if something happens to you while they're minors. Even if your children have become young adults, they may still need your financial help for some time, and you'll want to make sure they're provided for.

2. Your Health Is Poor

This doesn't just have to do with you worrying about your eventual death. It's also something you should consider if you're at risk of being unable to make your own decisions. Estate planning will help dictate what happens if you slip into a coma, or are unable to verbalize your wishes. If you are diagnosed with a serious illness, you should probably begin estate planning just in case.

3. You Have Significant Assets

The last thing you want is for your estate to be battled over by your loved ones after you're gone. If you have significant assets, however, this could very well happen. Even if you don't think your estate is worth fighting over, others may not agree. It's a good idea to have those decisions made ahead of time so that it's easier for everyone else and you can have peace of mind.

There are a lot of reasons why you need to begin estate planning and these are just a few. Don't put it off until it's too late.