## News and Notes from 2025 Estate Planning Study

News and Notes from 2025 Estate Planning Study

Current Insights into Estate Planning in 2025

The 2025 Trust & Will Estate Planning Report is the largest estate planning survey conducted. With 10,000 participants it allows us to look at the estate planning industry through the eyes of the American public. The key takeaway is Americans continue to be resistant to estate planning even as they face unprecedented financial uncertainty.

The report shows a critical gap between Americans’ understanding of estate planning and their action – or lack thereof. Incredibly, 55% of Americans have no estate documents at all, and only 31% of respondents have established a basic will. This is oddly surprising since the same report indicates that financial anxiety has reached historic highs, with nearly half of all Americans (49%) reporting increased concern about their financial futures compared to last year.

Key Findings Highlighting Shifting Priorities

• Financial Uncertainty: 78% of Americans say inflation has only made matters worse and made achieving their life goals even harder. From homeownership to retirement, rising costs are forcing Americans to rethink their financial futures.
• Legacy Reimagined: Nearly 1 in 5 Americans (19%) believe they will leave nothing meaningful behind when they die. Financial anxiety has peaked among both lower-income groups AND those earning between $500K–$1M annually, suggesting that wealth does not eliminate uncertainty.
• Shifting Values: 60% of Americans no longer believe that hard work guarantees economic opportunity. Success may no longer be measured solely by financial gain especially with the younger generations. These younger generations include self-growth, societal impact, and access to knowledge in their definition of success.
• Diversity in Confidence: 30% of Black respondents and 28% of Hispanic Americans show higher confidence in estate planning knowledge, that they feel ‘very confident’, compared to only 21% of White Americans.

Gender & Generational Trends

Men outpace women in estate planning: 34% of men have a will vs. 29% of women, and 15% of men have a trust vs. 9% of women. Nearly 1 in 4 Millennials and Gen Z Americans prefer non-family executors – trusted friends or professionals over relatives, reflecting evolving views on family, trust, and responsibility.

The Growing Importance of Pet Planning

62% of Americans believe pets deserve the same level of importance as humans in estate plans. Younger generations lead this shift, with 69% of Gen Z believing pet care should be formally documented.

In reviewing the report, the data suggests a fundamental reimagining of legacy planning. Younger generations are prioritizing personal fulfillment and digital legacy over traditional wealth accumulation, with charitable giving emerging as their preferred vehicle for leaving a meaningful impact.

https://trustandwill.com/learn/estate-planning-report-2025

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