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Financial Planning > Trusts and Estates > Estate Planning

Nearly Half of Families Earning $100K or More Lack an Estate Plan: Survey

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Seventy percent of participants in a new survey from Wealth, an estate planning platform, said they want to pass wealth down to their loved ones. Yet only 53% have an estate plan. Worse, just 32% have a will in place. 

Among those who do not have an estate plan, 63% said that they have considered creating one in the past, and 46% said they do not know how to start. 

The survey found that people of color in particular face accessibility barriers; they are 14% less likely to have an estate plan in place than their counterparts in the sample.

Wealth’s findings were based on a survey conducted in the U.S. by WALR in partnership with Manifest from Dec. 16 to Jan. 1 among 10,000 employed respondents ages 30 to 55 with a household income of more than $100,000. 


The survey results showed that the main factor impeding people from securing their financial legacy is the notion that estate planning should be done in the future rather than now — possible because 45% of respondents said they avoid thinking about death.

Another misperception is that estate planning is only for extremely wealthy people. Forty-two percent of survey participants said they do not own anything valuable as a reason they do not have a plan, and 30% said they do not have enough money.

Wealth said it behooves employers to shine a light on estate planning in their benefits packages. Only 13% of the sample said they receive estate planning as an employee benefit.

Seventy-two percent of respondents who do not have a plan said they would be more likely to set up one if these services were offered by their employer.

“Estate planning should not only be available to high-net-worth households,” Rafael Loureiro, Wealth’s co-founder and chief executive, said in a statement. “Employees of all income levels and walks of life can benefit from financial clarity and emotional peace of mind that comes with having an estate plan.” 


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