Kudos! If you are reading this, it means you made it through what is statistically the most deadly month of the year – January. But be vigilant. According to Live Science, “The deadliest month in the U.S. is the one that heralds the New Year: January. An average of 251,699 people in the U.S. died in January every year between 2010 and 2020, according to a Live Science analysis of the Centers for Disease Control and Prevention (CDC) Wonder database, which tracks how and when people die. In comparison, the averages for the other months for this time period range from 218,102 (August) to 242,475 (December).”
Why is January so deadly? According to the World Health Organization, the culprit might be heart disease. The thinking is that during winter months, more body heat is lost, so the heart has to work harder, increasing the stress on individuals with heart conditions. Of course, that doesn’t account for increased fatalities in warm climates like Florida, so research likes to throw in other causes such as influenza, pneumonia, and now RSV. Traffic accidents play a role, too, especially in cold and snowy climates.
What does this have to do with estate planning? A great deal because we have to assume the majority of those who passed away during January 2024, from whatever cause, were unaware their death was imminent. The fact is, most of us don’t know what our life expectancy will be. But one thing we can all agree on is that we most definitely will die someday. So how many of those who died in January, the deadliest month of the year (statistically), had an up-to-date and legal will? Looking again at statistics, only about 50% of them.
So? That tells us that about half of those individuals left their loved ones a potentially long, stressful, complex situation to deal with, in addition to their grief. While February is known as the “month of love,” those poor heirs are not likely to be “feeling the love” right now. February is not going to be easy for many of them. They will likely be facing probate court for one thing and possibly spending hours trying to piece together all the assets, liabilities, and more while in grief. Tracking down savings and checking accounts, creditors, insurance policies, titles, and deeds can be a massive undertaking if they don’t have anything to guide them, like a will or estate plan. If there are multiple heirs, they might be facing discord about who gets what, which could lead to lifelong estrangements. Any assets that might be legitimately theirs could tied up in the court system for weeks, months, or even years.
I do feel sorry for those folks. They would be much better off if their loved ones at least had a will. An estate plan would be best as it can serve as the “roadmap,” letting them know what their loved one wanted and minimizing complications and delays.
None of us knows what the future holds. How many of those who passed away during the deadliest month thought they had time to get their affairs in order? Show your loved ones how much you care in February, the “month of love,” by calling me at 513-399-7526 to update or create your will or estate plan. Or reach me through my website at www.davidlefton.com.