Estate Planning Industry Statistics

The estate planning industry is projected to grow steadily over the next decade driven by an aging population and increasing wealth transfer.

Statistic 1

"58% of adults in America don’t have a will or a trust."

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Statistic 2

"More than 20% of U.S. seniors lack the essential elements of estate planning."

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Statistic 3

"The estate planning industry is projected to increase at a rate of 1.4% annually until 2023."

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Statistic 4

"The industry generates over $11.0 billion annually in the United States."

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Statistic 5

"Stillbirths are expected to surpass deaths as a driver of estate planning over the next five years."

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Statistic 6

"About a quarter of seniors (23%) don't have an updated will."

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Statistic 7

"Estate planning industry employs more than 146,250 people in the United States."

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Statistic 8

"The United States accounts for over 38.7% of the global legal services market including estate planning."

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Statistic 9

"9 in 10 Americans find estate planning to be confusing."

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Statistic 10

"The estate planning industry has grown an average of 1.7% per year since 2016."

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Statistic 11

"Roughly 60% of Americans have not created a will or other estate planning documents."

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Statistic 12

"The percentage of U.S. seniors with a will decreased by 25% between 2017 and 2021."

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Statistic 13

"Only 42% of U.S. adults currently have estate planning documents such as a will or living trust."

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Statistic 14

"Among those with children younger than 18, just 36% have an end-of-life plan."

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Statistic 15

"The average cost of a simple will created by an estate planning attorney is $1,000 to $1,500."

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Statistic 16

"About a quarter of older adults say they have not made legal preparations for their end of life due to lack of time."

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Statistic 17

"About 6.2% of the estate planning industry workforce will retire in the next 12 months."

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Statistic 18

"The demand for estate planning services is projected to rise due to the aging population and increasing per capita disposable income."

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