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A New Report on Estate Planning Trends Among Newlyweds

As wedding bells ring across the nation this summer, a new survey reveals that love often comes without caution—especially when it comes to financial security. A report from Trust & Will indicates that 42% of married Americans do not have an estate plan, leaving them and their families exposed to potential financial risks.

With more than two million weddings anticipated in 2025 alone, including around 225,000 ceremonies just in June, now is the opportune time for couples to address this critical aspect of their lives. Unfortunately, many couples overlook the importance of estate planning despite it being a natural extension of their commitment to each other.

The Dilemma:

This disconnect is concerning, especially when you consider that only 19% of married couples establish an estate plan within the first four years of marriage. Moreover, even though married individuals are roughly four times more likely to have a will than engaged couples—44% compared to 12%—nearly half still neglect to create any form of estate plan at all. Statistics show that among those who eventually act, 30% waited for nine years or longer post-marriage to get started.

Cody Barbo, co-founder and CEO of Trust & Will, voiced his personal connection to this revelation, stating, "When I got married, my wife and I realized we had no will, no healthcare directive, nothing. It was a wake-up call that inspired the very foundation of this company." His words underscore the need for couples to recognize that a solid estate plan is integral to ensuring a secure future together.

Awareness is Key

The survey provides deeper insights regarding behaviors tied to marital status, gender, and generational influences on estate planning. Strikingly, while 38% of engaged couples report that marriage encourages them to consider estate planning, only a mere 12% actually own a will. A shocking 50% admitted to lacking any basic knowledge about estate planning, while only 15% have healthcare directives. Alarmingly, 37% of them haven't even thought about appointing an executor or trustee for their estate—key roles that are crucial in estate management.

The Gender and Generational Gap

Generational differences also play a significant role in planning. While Millennials and Gen Z exhibit a strong intent to create estate plans (with over 40% planning to do so within the next five years), they often face barriers such as cost, lack of understanding, and time constraints. Furthermore, a notable gender disparity exists: men are three times more likely than women to have a trust in place. Conversely, women report feeling more overwhelmed by the nuances of estate planning and are 38% more likely to experience feelings of financial insecurity.

Despite 67% of respondents categorizing being overwhelmed as their primary obstacle to starting estate planning, the reality is that many estate planning tasks can be completed in a few short hours. Without adequate planning, surviving spouses risk finding themselves in difficult situations, such as:

• - Navigating a lengthy and costly probate process
• - Inability to make crucial medical decisions
• - Financial accounts being frozen
• - Potential disputes among family members over assets
• - Facing unforeseen tax issues

A Call to Action

As Barbo eloquently stated, "A wedding is more than a celebration, it's a pledge to protect one another." Establishing an estate plan is among the most profound acts of love a couple can engage in, providing peace of mind and the security of knowing that both partners' wishes are respected and understood.

For those interested in exploring the full report and learning more about estate planning, visit Trust & Will. Avoiding the planning conversation could leave your loved ones in a precarious position during what should be a moment of grief and reflection, transforming love into legacy—secure and enduring.