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New Findings Reveal a Nation's Financial Uncertainty Amid American Dream Crisis

The recent 2025 Trust & Will Estate Planning Report has surfaced significant concerns regarding the state of estate planning in America, highlighting a troubling disconnect between knowledge and action. Conducted by Trust & Will, this extensive survey engaged 10,000 participants, aiming to dissect the current attitudes towards estate planning amidst skyrocketing financial anxiety.

The Statistics Speak Volumes

Shockingly, 55% of Americans lack any estate documents, while only 31% have composed a basic will. These figures depict a stark reality, especially at a time when 49% of Americans express heightened worries about their financial futures compared to the previous year. The report indicates a growing skepticism about the traditional notion of the American Dream, with a decisive 60% of respondents no longer convinced that hard work guarantees economic success.

A Shift in Values

Cody Barbo, CEO of Trust & Will, remarked on the evolution of the American Dream, stating, "We are witnessing a fundamental shift in how Americans perceive their financial futures. The belief that hard work correlates with financial success is waning, prompting us to consider: Is the American Dream changing, or is it slipping away?" This observation underscores a critical juncture for Americans as they redefine success beyond mere financial metrics.

The Economic Landscape

A staggering 78% of surveyed individuals reported that inflation exacerbates their challenges in achieving personal goals. Housing stability and retirement plans seem increasingly daunting, leading many to reconsider their financial trajectories. Alarmingly, nearly a fifth of respondents (19%) anticipate leaving no substantial legacy upon their passing, while more than half expect to leave behind just $50,000 or less to beneficiaries.

Not Just the Underprivileged

Interestingly, financial uncertainty is not confined to lower-income brackets. Even among households earning between $500K and $1M, anxiety remains palpable, indicating that significant income does not equate to peace of mind.

Disparities in Estate Planning

The study also unveiled notable disparities across racial and gender lines. While 30% of Black individuals and 28% of Hispanic respondents felt confident in their understanding of estate planning, only 21% of White Americans shared this sentiment. Notably, 51% of Black participants regard estate planning as essential, compared to 46% of Whites. Despite this knowledge, a staggering 64% of Black Americans and 62% of Hispanic individuals still lack estate documents, contrasting with 52% of Whites.

The Gender Divide

The estate planning landscape reflects a gender discord as well, with 34% of men having a will versus 29% of women. Furthermore, 15% of men have established a trust compared to just 9% of women. Alarmingly, 58% of women report having no estate planning documents, an increase from 50% of men.

Emerging Trends

As we navigate this evolving landscape, some emerging trends cannot be overlooked. Approximately 20% of Americans express more trust in AI-generated legal counsel than human attorneys, and 34% view it on par. This trend is especially prevalent among younger, wealthier respondents who are quick to adopt AI technology in estate and financial planning.

Modern Family Dynamics

Almost 25% of Millennials and Gen Z prefer appointing friends or professional acquaintances as executors rather than family members, showcasing changing perspectives on trust and responsibility. Additionally, 62% of Americans recognize the importance of including pets in estate plans, notably resonating with 69% of Gen Z who believe in formal pet care documentation.

A New Definition of Success

The survey findings paint a portrait of a nation wrestling with its ideals. As many Americans turn their backs on traditional values, success is increasingly defined on personal terms — prioritizing education, personal growth, and charitable impacts over wealth accumulation. Such shifts suggest a comprehensive reimagining of legacy and estate planning practices.

In addition, charitable giving has emerged as a favored method for many to leave a lasting mark. The painstaking work of Trust & Will seeks to simplify and modernize estate planning, ensuring optimal accessibility for all individuals, reflecting this evolving ethos of modern America.

For a deep dive into full survey results, visit Trust & Will - Estate Planning Report 2025.

Methodology

Conducted by WeAreTalker, this study encompassed responses from a diverse demographic, aged 18 and above, ensuring representation across numerous facets such as age, income, education, race, and geographic affiliation. The insights garnered ensure a reflective view on the current climate of estate planning and financial attitudes in America.