Estate Planning Statistics

In spite of Covid-19, estate planning has largely decreased over the past decade dropping from more than 50% of Americans having a Will in 2005 to roughly 30% having one today. Additionally, many families don’t openly talk about their estate plans.

• 30% of Americans don’t know if their parents have a Will.
• 40% of Americans don’t know what’s in their parent’s Wills.

Estate planning is more common among Americans with higher levels of education. Older Americans are more likely to have a Will, but young adults- and anyone with assets- should also seriously consider formulating their estate plans. You must be at least 18 years of age and of sound mind to make a Will.

• 41% of Americans over 55 have Healthcare Proxies.
• 33% of Americans over 55 have financial Power of Attorneys.
• Only 18% of Americans over 55 have a Will, Advance Healthcare Directive, and Durable Power of Attorney.
• 61% of American adults with a postgraduate degree have a Will.
• 50% of American adults with a college degree have a Will

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