Nearly 60% of Americans don't have wills

Most Republicans have one, but just 38% of Democrats do; two-thirds of parents with young kids are intestate
FEB 06, 2017
Only 36% of U.S. adults with children under age 18 have a will or living trust, and just 42% of all U.S. adults have such documents, a new study from Caring.com finds. Older Americans are better prepared than younger ones, with 58% of Baby Boomers and 81% of those older than 72 having a will or living trust, compared with one in five Millennials (ages 18-36) and 36% of Gen Xers (37 to 52). Among those who don't have estate documents, the main reasons are: “I just haven't gotten around to it” (47%) and “I don't have enough assets to leave to anyone” (29%). The survey, conducted for a San Mateo, Calif.-based senior care referral service, interviewed a nationally representative sample of 1,003 adults and found that medical and healthcare powers of attorney are more common than wills/living trusts. About 53% of U.S. adults having granted someone legal authorization to make decisions on their medical care if they are unable to do so. In terms of wills, the survey found that 58% of Republicans have one, versus 38% of Democrats and 37% of independents.

Latest News

Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says
Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says

A new analysis finds long-running fiscal woes coupled with impacts from the One Big Beautiful Bill Act stand to erode the major pillar for retirement income planning.

SEC bars New Jersey advisor after $9.9M fraud against Gold Star families
SEC bars New Jersey advisor after $9.9M fraud against Gold Star families

Caz Craffy, whom the Department of Justice hit with a 12-year prison term last year for defrauding grieving military families, has been officially exiled from the securities agency.

Navigating the great wealth transfer: Are advisors ready for both waves?
Navigating the great wealth transfer: Are advisors ready for both waves?

After years or decades spent building deep relationships with clients, experienced advisors' attention and intention must turn toward their spouses, children, and future generations.

UBS Financial loses another investor lawsuit involving Tesla stock
UBS Financial loses another investor lawsuit involving Tesla stock

The customer’s UBS financial advisor allegedly mishandled an options strategy called a collar, according to the client’s attorney.

Trump's one big beautiful bill reshapes charitable giving for donors and advisors
Trump's one big beautiful bill reshapes charitable giving for donors and advisors

An expansion to a 2017 TCJA provision, a permanent increase to the standard deduction, and additional incentives for non-itemizers add new twists to the donate-or-wait decision.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.