Shocking Estate Gap: 65% Without Wills

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A new survey reveals most Americans lack a will, raising concerns about preparedness for the “Great Wealth Transfer.”

Story Snapshot

54% of Americans want to leave a positive mark on the world.
80% care more about the impression they leave on loved ones.
65% lack a working will, including half of seniors.
Survey results spark national discussion on legacy planning.

Survey Reveals Legacy Concerns Among Americans

A 2025 survey by Talker Research, commissioned by Ethos, examined the legacy and estate planning attitudes of 2,000 U.S. adults. The findings highlight a significant gap between the desire to leave a positive legacy and the actual steps taken to prepare for end-of-life scenarios. Despite 54% wanting to impact the world positively, nearly two-thirds lack a working will, including half of seniors. This gap poses risks as the country faces the “Great Wealth Transfer.”

Understanding the implications, the survey emphasizes that while 80% of respondents are concerned about their legacy on loved ones, only 50% have discussed end-of-life wishes with family. This disconnect reveals a need for improved communication and planning. Aging prompts a focus on relationships over material achievements, yet many fail to translate intentions into concrete plans, risking family conflicts and financial hardship upon passing.

Role of Estate Planning in Wealth Transfer

The “Great Wealth Transfer,” projected to move trillions from Baby Boomers to younger generations, underscores the importance of estate planning. Without proper preparation, this massive transfer could exacerbate wealth inequality. The survey reveals that older adults are more likely to have estate plans, but Gen Xers and Millennials remain largely unprepared, highlighting the urgency for educational initiatives and accessible planning tools.

Efforts to address these gaps include digital estate planning platforms, which have increased accessibility but not fully closed the planning divide. Trust & Will co-founder Cody Barbo (Trust & Will 2025 Estate Planning Report) stresses the importance of starting early and ensuring planning tools reflect cultural diversity, as definitions of legacy vary widely among families. Non-white Americans often prioritize cultural and communal legacies, while white Americans focus on individual wealth transfer.

Opportunities for Improvement in Estate Planning

Despite increased awareness, the majority of Americans remain unprepared for end-of-life planning. The Caring.com 2025 Wills Study found that 58% of those without a will cited lack of education as the main barrier. Estate planning attorney Naomi Cahn (University of Virginia School of Law, 2025) adds that accessibility to affordable planning tools also remains a major hurdle. The estate planning industry faces increased demand for culturally sensitive planning tools and digital solutions.

Aging Americans shift focus to positive legacy and meaningful living, new study shows https://t.co/GRI53qLZmt pic.twitter.com/sYBMN3NN0y

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As the national discussion continues, the estate planning sector must address these disparities to prevent long-term economic and social impacts. Unplanned estates can lead to costly legal disputes and inefficient wealth transfer, while lack of communication strains family relationships. Policy analyst Howard Gleckman (Urban-Brookings Tax Policy Center, 2025 commentary) suggests that legislative incentives, such as tax credits for basic estate planning, could expand access and help ensure a smoother transfer of wealth.