Vincent, Romeo & Rodriguez, LLC
Call Now, For Phone Consultation
Denver Metro Office 303-500-5859
Boulder County Office 303-720-7260

Do Americans really care about estate planning?

In 2016, WealthCounsel, an estate planning and guidance company, conducted a study to understand what Americans really know and what they think about estate planning. The most common response, by over half of the respondents, believed estate planning is only for the wealthy and isn't necessary for the everyday American.

Anybody who believes wills and trusts are not needed has been misguided. A proper estate plan can be vital to people of any income level, because these planning tools aren't always about divvying up a large inheritance or property. An estate plan could be used to designate a guardian for your child or assign your home to a beneficiary in the event of your death. A proper estate plan can also be beneficial for business owners who want to ensure their business stays within the family as generations come and go.

Many Americans are unaware of the benefits cited above, which has led to only 40% of Americans having a will and 17% having a trust.

As the report cited, most Americans are more than anything, confused about estate planning. Nearly three-quarters (74%) of respondents, affirmed that estate planning is a confusing topic to grasp. This led to the following results.

  • 47% believed that estate planning is only necessary for the ultra-rich
  • 49% said their assets weren't worth enough to even consider an estate plan
  • A mere 3% mentioned the word "trust" - which is typically only associated with the wealthy, but can be part of any estate plan
  • 61% said that a will, will cover all their estate planning needs

Considering that the details of creating a comprehensive estate plan was not part of the education curriculum for most Americans, it's not a surprise that confusion is increasingly present. Therefore, an estate planning attorney can act as a necessary guiding light and make sure you and your family's assets that you hold dear, however large or small, are protected in the future.

No Comments

Leave a comment
Comment Information
Email Us For a Response

Contact Our Firm

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Office Location:

Louisville Office
1805 Hwy. 42
Suite 100
Louisville, CO 80027

Phone: 303-720-7260
Fax: 303-604-6052
Louisville Law Office Map

Englewood Office
5460 South Quebec Street
Suite 333
Englewood, CO 80111

Phone: 303-500-5859
Fax: 303-723-8814
Englewood Law Office Map

Phone Numbers:
Phone Numbers:
    • Super Lawyers
    • Super Lawyers
    • ACTEC | The American College Of Trust And Estate Counsel
    • Top Lawyers 2015 | 5280
    • ACTEC | The American College Of Trust And Estate Counsel
    • Top Lawyers 2015 | 5280
    • Life Care Planning Law Firms Association
    • National Academy of Elder Law Attorneys, Inc
    • NELF | National Elder Law Foundation