The State of Estate Planning in America: 2026 Report
A comprehensive analysis of who plans, who doesn't, and what's driving the growing protection gap.
Executive Summary
America is facing an estate planning crisis. Despite $124 trillion in wealth set to transfer between generations by 2048, the majority of Americans have no legal documents in place to protect their families.
•Only 24% have a will — down from 33% in 2022, the lowest in five years
•55% have no estate documents — no will, no trust, no healthcare directive
•64% of parents with minor children lack a will — leaving guardianship to courts
•76% have no plan for digital assets — despite valuing them at ~$200,000
Methodology
This analysis synthesizes data from multiple published surveys totaling over 10,000 respondents:
- • Caring.com Annual Wills Survey (2024-2025) — 2,500+ respondents/year with YouGov
- • Trust & Will 2025 Estate Planning Report — largest estate planning survey conducted
- • Gallup Estate Planning Polls (1990-2025)
- • Bryn Mawr Trust Digital Assets Survey (2024)
- • Merrill Lynch/Cerulli Associates Wealth Transfer Research
- • AARP, American Bar Association, and NCSC data
Section 1: The Estate Planning Gap
The fundamental finding across all surveys is consistent: most Americans are unprepared.
| Document Type | Percentage |
|---|---|
| Americans with a will | 24-32% |
| Americans with a trust | 11-13% |
| Americans with ANY document | 45% |
| Americans with NO documents | 55% |
The Caring.com 2025 survey found the lowest will ownership in their tracking history: just 24% reported having a will, down from 33% in 2022.
What "No Plan" Actually Means
- • Courts decide who gets assets — not the deceased or family
- • Guardianship goes to court determination — potentially not who parents would choose
- • Probate costs consume 3-7% of estate value
- • Average settlement time: 9 months — often longer
Section 2: Who Plans vs. Who Doesn't
The Generational Divide
Estate planning readiness increases with age — but even older Americans leave significant gaps.
| Generation | % With a Will | % No Documents |
|---|---|---|
| Silent Generation (77+) | 66% | ~30% |
| Baby Boomers (60-76) | 44% | ~45% |
| Gen X (44-59) | 26% | ~55% |
| Millennials (28-43) | 22% | 60%+ |
| Gen Z (18-27) | 15% | ~70% |
The Surprise
Adults aged 35-54 — the "sandwich generation" caring for both children and aging parents — have the lowest estate planning rates relative to their responsibilities.
The Income Gap
| Annual Income | % With a Will | % Citing "Not Enough Assets" |
|---|---|---|
| $1M+ | 66% | 5% |
| $250K-$500K | ~55% | 12% |
| $80K+ | 46% | 18% |
| $40K-$80K | 35% | 32% |
| Under $40K | 21% | 40%+ |
The misconception: 40% of Americans believe they don't have enough assets to justify estate planning — up from 35% in 2023. Estate planning isn't about wealth; it's about naming guardians, healthcare directives, and avoiding probate.
Section 3: The Psychology of Delay
Why People Don't Plan
| Reason | % Citing |
|---|---|
| "Haven't gotten around to it" | 43% |
| "Don't have enough assets" | 35-40% |
| "Don't know how to start" | 12-15% |
| "Too expensive" | 11-13% |
| "Don't want to think about death" | ~10% |
| "Nothing would motivate me" | 23-25% |
The Procrastination Paradox
63% of high-income Americans ($80K+) cite procrastination as their barrier — higher than any other income group. It's not about money or access. It's about avoidance.
The "Crisis Responder" Mentality
Over 40% of Americans without a will say they won't get one until they experience a health crisis. This explains both the COVID surge (143% at some platforms) and the post-COVID decline.
The problem: Waiting for a health crisis often means waiting too long. Capacity issues, rushed decisions, and family conflict increase dramatically.
Section 4: The Digital Blind Spot
Digital assets include financial accounts, cryptocurrency, photos, social media, cloud storage, domains, and online businesses. Yet 76% have "little to scant knowledge" of digital estate planning.
The Access Problem
Even with passwords, heirs face barriers:
- • Most platform ToS prohibit account transfers upon death
- • RUFADAA requires explicit written authorization
- • Cryptocurrency without recovery phrases is permanently lost
Section 5: What's Changed Since COVID
By 2024-2025, the urgency dissipated. Estate planning rates dropped to pre-pandemic levels for the first time. Lower-income Americans saw the steepest decline: 16% drop since 2020.
Section 6: Implications for Families
The Parent Problem
Perhaps the most alarming statistic: only 36% of parents with minor children have a will. Without one, courts decide guardianship — potentially appointing someone parents wouldn't choose.
The Great Wealth Transfer
| Generation | Estimated Inheritance |
|---|---|
| Gen X | ~$40 trillion |
| Millennials | ~$50 trillion |
| Gen Z | ~$15 trillion |
| Charity | ~$18 trillion |
Source: Merrill Lynch/Cerulli Associates, transfers through 2048
The generations set to receive this wealth have the lowest estate planning rates. When they inherit, most won't have documents ready to protect, manage, or eventually transfer those assets.
Conclusions
The Core Problem
Estate planning failure isn't primarily about cost, complexity, or access. It's about psychology. 83% say it's important. 55% do nothing. The gap between intention and action requires confronting mortality, making difficult decisions, and taking action with no immediate reward.
Breaking the Cycle
- 1.Trigger action at life milestones — birth, home purchase, marriage
- 2.Reduce friction to zero — mobile-first, plain-language, 15-minute completion
- 3.Reframe from "death planning" to "family protection"
- 4.Address digital assets proactively — the blind spot is growing
- 5.Target the sandwich generation — highest responsibility, lowest preparation
Sources & Citations
- Caring.com. (2025). 2025 Wills and Estate Planning Study. In partnership with YouGov.
- Caring.com. (2024). 2024 Wills and Estate Planning Study.
- Trust & Will. (2025). 2025 Estate Planning Report: Demographic Breakdown.
- Gallup. (2021, updated 2025). How Many Americans Have a Will?
- Bryn Mawr Trust. (2024). Digital Assets Survey.
- Merrill Lynch / Cerulli Associates. (2024). The Great Wealth Transfer.
- Bank of America Private Bank. (2024). Study of Wealthy Americans.
- LegalZoom. (2026). Estate Planning Statistics.
- AARP. (2024). Estate Planning Research.
- American Bar Association. (2023). Estate Planning Statistics.
- National Center for State Courts. (2023). Probate Court Caseload Data.
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