One of the biggest things that motivates people to our law firm to engage in estate planning or updating their wills is when they go on an airplane trip. The thoughts to traveling high in the air in a large aircraft scares people into executing wills and powers of attorney. The perception is that flying is very dangerous. However, human perception is sometimes not based in reality.
What is your probability of dying in a commercial airplane crash? According to statistics, you have a one in 3.5 million chance of being involved in a commercial airplane crash where at least one person dies (not necessarily you).
In comparison, statistics show that you have a one in 100,000 chance of dying in an automobile accident. That’s right. You are at least 35 times more likely to die riding in a car accident today than if you got on a commercial aircraft.
So, what is the moral of the story? Instead of waiting to estate plan when you are taking a trip on a plane, you should be much more worried about estate planning today if you are riding in a car. One should not put off estate planning or the execution of powers of attorney. Our health and/or capacity is not guaranteed. Plan today!
If you have any questions about wills, estate planning or powers of attorney, contact an experienced estate planning attorney.
Kent S. DeJean