• Legacy & Estate Planning

Assessment: How Does Your Estate Plan Compare to Affluent Americans?

November 29, 2018 | Personal Capital

Read the Guide.

Estate planning is something that everyone should pursue – regardless of the size of your estate. If you have minor children, life insurance policies, an IRA or other retirement accounts, health care savings accounts, real estate, bank accounts, or other personal property like a sentimental family heirloom, it’s important to dictate your wishes for your assets when you pass. While it can be difficult to consider your own mortality, it’s also important to clearly lay out your wishes to make the transition easier on your loved ones and avoid the probate process.

We recently performed a survey in partnership with ORC International that surveyed the estate planning wishes of both affluent Americans (defined as families with $500k+ of household investable assets) and GenPop parents (defined as families with less than $500k of household investable assets.

While there are many different types of estate plans and many different considerations that go into each (powers of attorney, beneficiary designations, estate taxes, gift taxes, and more), it’s important to understand the basics of your estate plan so that you can have a conversation with your loved ones and prepare them accordingly. Who are your beneficiaries? Who is inheriting what? What is the value of the estate?

What are your wishes for your estate plan? Take our assessment to see how your wishes compare to those of affluent Americans.

To learn more about legacy and estate planning, read our free “Guide to Legacy and Estate Planning.”

Read the Guide.


Disclaimer. This communication and all data are for informational purposes only and do not constitute a recommendation to buy or sell securities. You should not rely on this information as the primary basis of your investment, financial, or tax planning decisions. You should consult your legal or tax professional regarding your specific situation. Third party data is obtained from sources believed to be reliable. However, PCAC cannot guarantee that data’s currency, accuracy, timeliness, completeness or fitness for any particular purpose. Certain sections of this commentary may contain forward-looking statements that are based on our reasonable expectations, estimate, projections and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not a guarantee of future return, nor is it necessarily indicative of future performance. Keep in mind investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.

*Data in this assessment is based on the findings of an Online CARAVAN(R) Omnibus Survey conducted among a representative sample of 2,008 US adults ages 18 or older, 1,096 of which are parents (these are referred to as GenPop). This report also presents the findings of a survey conducted among 500 parents ages 18 and older and have total household investable assets of $500,000 or more (these are referred to as affluent.

**Personal Capital Advisors Corporation is an investment advisor registered with the Securities and Exchange Commission (“SEC”). Any reference to the advisory services refers to Personal Capital Advisors Corporation. Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC. Past performance is not a guarantee of future return, nor is it necessarily indicative of future performance. Keep in mind investing involves risk.

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