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Our latest survey of 750 adults, spanning five generations from Gen Z to the Silent Generation, reveals dramatic differences in estate planning behavior, motivations, and perceived knowledge. The findings offer a revealing snapshot of how age, life stage, and cultural context shape legacy planning.
From the youngest adults—many of whom are confident but underprepared—to the oldest, who are document-rich but often knowledge-poor, the generational divide paints a picture of evolving priorities, mindsets, and barriers.
Younger Adults Are Confident—But Lacking the Documents
Gen Z may be the most confident generation when it comes to estate planning, but that confidence doesn’t always translate into action. Despite 23% of Gen Z respondents saying they feel “very knowledgeable,” only 18% actually have a will—the lowest of any generation.
In a surprising twist, 15% of Gen Z report having a trust—nearly double the rate of Gen X (8%). This suggests some younger adults may be setting up trusts for specific use cases (like pet trusts or digital asset control), but aren’t pursuing broader estate plans that include wills or healthcare directives.
Only 14% of Gen Z have a healthcare directive, and just 21% have documented an executor or trustee—compared to 74% of the Silent Generation.
The knowledge-action gap is striking. While Gen Z reports the highest confidence, they also lead in feeling overwhelmed (32%) and pressed for time (19%), and 12% don’t know what a healthcare directive is at all.
Gen X Is the Most Resistant—Despite Being in Their Prime Planning Years
If Gen Z is underprepared due to life stage, Gen X presents a more puzzling picture. Despite being in their prime years of parenting, homeownership, and caregiving, Gen X leads all generations in resistance to estate planning: 33% say they have no plans to create an estate plan.
They also report the highest concern about cost (26%) and are among the most likely to cite asset insufficiency and not knowing where to start.
Only 22% of Gen X have documented an executor or trustee, and just 17% have a healthcare directive—far below their older counterparts. Yet they are more likely than any other generation to cite business interests (15%) as a motivating factor.
This points to a clear opportunity: Gen X may respond best to targeted education that frames estate planning as a financial safeguard, not just a family one.
Millennials: High Intent, Moderate Action
Millennials stand out for their strong future intent—40% plan to create an estate plan within the next 1–5 years—and for their relatively high financial confidence. Yet many remain stuck in planning limbo.
Only 25% of Millennials have documented guardianship plans, and just 21% have healthcare directives. They are also the most likely generation to say they don’t know where to start (35%) and the most likely to report feeling “not knowledgeable at all” (17%).
Still, Millennials lead in protecting assets (56%) as a reason for estate planning, and are among the most motivated by major life transitions like marriage and homeownership. This group may benefit from simple, approachable tools that help them act on their good intentions.
Baby Boomers and the Silent Generation: High Adoption, But Gaps Remain
As expected, older generations show the highest adoption of estate planning documents—but not necessarily the highest understanding.
The Silent Generation leads in will ownership (65%) and healthcare directives (65%), yet none of them described themselves as “very knowledgeable.” Similarly, only 11% of Baby Boomers said they felt very knowledgeable despite having relatively high adoption rates.
Peace of mind dominates as a motivator among older adults—71% of the Silent Generation and 63% of Baby Boomers cited it as their top reason for planning. Boomers are also the generation most concerned with avoiding probate (51%) and optimizing tax outcomes (14%).
Still, 36% of Boomers created their estate plans more than 10 years after marriage, and only 6% did so within the first two years—revealing a trend of delayed action, even among those with established assets and families.
What This All Means for the Future of Estate Planning
Generational context matters. Whether someone is just starting adulthood or well into retirement, age strongly shapes how they approach (or avoid) estate planning. The survey data paints a clear picture:
Younger generations want to plan but don’t know how.
Middle generations are often overwhelmed or skeptical.
Older generations have documents—but may not fully understand them.
Each generation brings its own motivators, challenges, and misconceptions. To close the gap, estate planning professionals must meet people where they are—with the right message, at the right time, and in the right format.
Ready to learn more? Dive deeper into our survey findings in these upcoming companion articles:
Methodology:
This random double-opt-in online survey of 750 U.S. adults aged 18+, evenly split amongst people that are married (250), engaged (250), and single (250), and male (375) / female (375) was commissioned by Trust & Will and conducted by market research company Talker Research, in accordance with the Market Research Society’s code of conduct. Data was collected from May 16 to May 23, 2025. The margin of error is +/- 3.58 points with 95% confidence. This survey was overseen by Talker Research, whose team members are members of the Market Research Society (MRS) and the European Society for Opinion and Marketing Research (ESOMAR).
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