Most Americans Don't Have a Will

A recent survey by Findlaw.com found that nearly 60 percent of Americans lack a will, the most basic financial planning tool.

The survey found that people are more likely to have a will as they get older. More than half of Americans age 50 and older have a will. But the numbers steadily drop among younger adults. Only about a quarter of people between the ages of 25 and 34 have a will. Among Americans between the ages of 18 and 24, the figure drops to less than ten percent.