Sometimes I think people postpone getting their life in order because they believe they have plenty of years left. Lots of time to get around to making a will. And for most, they are probably right. There is plenty of time. But for some, that may not be true. What exactly are the odds that you’ll be around to get your ducks in a row?
DRIVING
What are your lifetime odds of dying in a motor vehicle crash? 1 in 93. That is actually higher than I thought it would be. But still, not great.
FLYING
What are your chances of dying in a plane crash? Your lifetime odds are about 1 in 10-11 million. And per flight odds, one in 10-20 million. Of course, you can reduce your risk by 100% if you don’t fly at all. But these odds are pretty good, so even if you’re a frequent flyer, odds are you won’t be going down with the plane.
OOPS, WATCH YOUR STEP!
What are your chances of dying from a fall? We hear about this a lot, people falling down stairs, off ladders, or simply off the curb. Well, your chances of death just went up dramatically when compared to flying … your lifetime odds of dying from any kind of fall are 1 in 100-120. Wow! Makes you never want to go down steps ever again, doesn’t it?
LOOK LEFT, LOOK RIGHT, LOOK LEFT AGAIN
How about the simple act of crossing a street? Of course, the statistics depend on where you’re crossing … a busy city street or a country lane, but … in general, the annual risk of any person being killed as a pedestrian is about 1 in 44,000-47,000. The odds aren’t as good as living through a plane trip right now, but certainly better than being in a car crash or falling off a ladder. You can dramatically lower your risk of course by looking both ways. Always.
THE “C” WORD
Sadly, I discovered the latest stats on death by cancer are your worst odds of all. Right now, statistically, 1 in 3 in the U.S. will get cancer, which is a sobering statistic. Of those who do get it, 1 in 6 will die of it. That applies equally to men and women. So, while grim, medical advances in the fight against cancer are making great strides every day. And let’s look at it positively, it means 5 in 6 won’t die of it.
So, for all of you out there putting off updating or creating your estate plan because you believe you have plenty of time, you’re probably right. Though maybe these statistics are giving you something to think about. But one statistic that applies across the board, whether you fly, drive, climb ladders, or cross streets, is that 100% of us will die. At some point. There is no getting around that statistic. And pretending that it won’t happen isn’t a good plan; in fact, that kind of thinking can leave your loved ones in a bad way. As an estate planning attorney, I urge you to protect your hard-earned assets and loved ones- just in case. Because none of us knows what tomorrow will bring. Please give me a call at 513-399-7526 or visit my website at www.davidlefton.com to learn more.