By most estimates, anywhere from 50–60% of Americans don’t have a will. The COVID-19 pandemic has increased the number of people who have created a will or estate plan, but most Americans still remain without.
Estate planning can be an uncomfortable topic to talk about, but it’s an important one. If you own any assets at all—a house, a car, or a bank account—or if you have loved ones who depend on you, you should have an estate plan, no matter your age or amount of wealth.
Estate planning is a broad category that includes wills, healthcare powers of attorney, living trusts, financial powers of attorney, and other documents. Here are 53 estate planning statistics for a closer look at how common estate planning is among different demographics, why so many remain without one, and the impact of the COVID-19 pandemic on estate planning. Read more.