Wills Could Help Black Families Retain Some Of Their Culture And Wealth

person writing in a journal
Via pxfuel
Tremain Prioleau II
May 24, 2023

Less than 30 percent of us have wills. With so many of us without any financial protections after death, our families could miss out on an estimated $68 trillion in money transferred to heirs and charity.

It’s not true that wills and estate planning are just for the rich. Our bank accounts, retirement, employee benefits, and personal property are all assets many of us have in some capacity. Without planning for death, we could be preparing for the worst.

Wills are important because they can help to secure our family’s financial future. Without it, who would pay the funeral costs or provide for the family shortly after?

The worst-case scenario is that the state takes over the assets left behind, ultimately taking control away from the family. The lack of wills in our community is giving away the remnants of our family and culture to capitalism.

Wills can help to preserve our family’s financial legacy, even if we have little to our name. Without them, we risk our legacies being lost or taken from us after one passes away.