New research highlights a considerable disconnect between how Americans view the importance of estate planning and their actual preparation. While 73% of adults acknowledge estate planning as important, only 26% have a will.

The Estate Planning Gap

A recent report indicates that over half of American adults – 56% – currently lack any estate planning documents. The study, conducted by Talker Research between January 28th and February 5th, 2026, with 5,000 participants, was commissioned by Trust & Will.

Generation X: The “Sandwich Gap”

The research identifies Generation X as particularly vulnerable. 62% of Gen X individuals report having zero estate planning documents, exceeding the rates for Gen Z (54%), Millennials (58%), and Baby Boomers (48%). This demographic is often referred to as the “Sandwich Gap.”

Consequences of Lack of Planning

The lack of preparation has real-world implications. 42% of Americans would be unsure of what to do if a family member passed away today, rising to 56% among those without estate planning documents. A substantial 68% of individuals in committed relationships also lack these crucial protections.

Barriers to Estate Planning

The primary reason cited for inaction is the belief that individuals do not have sufficient assets (27%). Experts emphasize that estate planning is about more than just wealth; it’s about protecting loved ones and ensuring wishes are honored.

Common Obstacles

  • Lack of knowledge about where to begin (17%)
  • Concerns about cost (15%)
  • Perceived complexity of the process (12%)
  • Avoiding uncomfortable conversations (8%)

    • The Importance of Proactive Planning

    Cody Barbo, Co-founder and CEO of Trust & Will, stresses the need to address this gap, especially for those in their forties and fifties. He notes that this demographic often manages complex finances, including children, mortgages, aging parents, and retirement planning.

    Barbo argues that the assumption estate planning is only for older generations is incorrect. He emphasizes that a plan empowers designated individuals to act on one’s behalf when they are unable to do so, prioritizing the protection of loved ones.

    The report underscores the need for increased education and accessible resources to help Americans safeguard their families’ futures. Proactive estate planning is a fundamental aspect of responsible financial and personal well-being.