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Home / Estate Planning / What are the Odds

What are the Odds

March 24, 2022 by Brandon McGee

What are the Odds your family will need estate planning?  Well, anyone who will die someday needs to plan for that eventuality—that is everyone!  In addition, anyone who will ever be disabled or incapacitated needs to plan for that eventuality, as well.  Even for those in their 20s and 30s, the odds of at least a 3-month disability prior to age 65 are over forty percent.

estate planning odds

Of course, none of us think that this will actually happen to us.  We think we will have a warning and can prepare then.  Of course, if we knew when, where, and how we might meet our fate, we could put our affairs in order at the last minute.  We could even modify our behaviors to avoid what we knew to be our fate.  Even if we could wait to the last minute, doing so would add immeasurable pressure, stress, and difficulty during an already difficult time in our lives.

None of us know how we will meet our end.  But, here are some statistics as to the odds:

Cause of DeathLifetime Odds
Heart Disease1-in-4
Cancer1-in-7
Stroke1-in-23
Accidental Injury1-in-36
Motor Vehicle Accident1-in-100
Intentional Self-harm (suicide)1-in-121
Falling Down1-in-246
Assault by Firearm1-in-325
Fire or Smoke1-in-1,116
Natural Forces (combined)1-in-3,357
Electrocution1-in-5,000
Drowning1-in-8,942
Air Travel Accident1-in-20,000
Flood1-in-30,000
Legal Execution1-in-58,618
Tornado1-in-60,000
Lightning Strike1-in-83,930
Snake, Bee or other Venomous Bite or Sting1-in-100,000
Earthquake1-in-131,890
Dog Attack1-in-147,717
Asteroid Impact1-in-500,000
Tsunami1-in-500,000
Fireworks Discharge1-in-615,488

But, whether you are destined to die from a common cause, like cancer or heart disease, or a rarity, like a tsunami or asteroid impact, planning is essential.  Without planning, you have no voice or control over what happens to your family and your property once you are gone.  Your property would go where your state says it should go.  The court would also appoint a guardian to care for your minor children without any indication from you regarding who would be good in that capacity.

Let your voice be heard and have things set up now to accomplish your ultimate goals.  You will rest easier.  Your family will have less difficulty dealing with any problems down the road.  When health issues arise, a well laid-out estate plan is priceless.  A qualified estate planning attorney can help you identify and achieve your ultimate goals.

Compliments of the McGee Law Firm, Attorney Brandon McGee

Written By: The American Academy of Estate Planning Attorneys

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Brandon McGee
Brandon McGee
Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.
Brandon McGee
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Filed Under: Estate Planning

About Brandon McGee

Brandon McGee enjoys a successful law practice focusing on estate planning, elder law, Medicaid preplanning and crisis planning, and probate. Brandon and his team combine legal skills with compassion and understanding to develop estate plans that are personalized to the needs of each of their clients.

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Client Review
May 25, 2021
    

Brandon McGee is knowledgeable, experienced and professional regarding Estate Planning. The entire process of multiple meetings to establish our input, draft and sign documents and fund the Trust were well organized and clearly explained. At completion, we were presented with a very well organized binder with the documents (both paper and electronic) and lists for future action.  In short, we find Brandon McGee and his staff to be competent, professional and friendly. ~ Brian C.

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