Women Are Less Likely Than Men To Have an Estate Plan: 5 Tips To Get Started

3 weeks ago 18

Gabrielle Olya

Wed, Apr 16, 2025, 5:00 AM 4 min read

Men are much apt to person an estate program successful spot than women, according to Trust & Will’s 2025 Estate Planning Report. The study recovered that 34% of men person a volition compared to 29% of women, and 15% of men person a spot compared to lone 9% of women. Additionally, women are much apt to person nary property readying documents astatine each (58% versus 50% for men). The astir cited crushed for lacking an property program is not knowing wherever to start.

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In this “Financially Savvy Female” column, we’re chatting with Chitra Patel, CFP with Trust & Will, astir the basics women request to cognize to physique their property plans, peculiarly if they’re starting from scratch.

Women should question retired trusted professionals oregon reputable integer platforms that align with their needs. An property readying lawyer is perfect for customized guidance, peculiarly for analyzable situations similar blended families, concern ownership oregon peculiar needs planning. For a much streamlined, accessible approach, online platforms similar Trust & Will connection legally valid documents with built-in guidance.

When evaluating a resource, they should look for:

Experience and credentials: An lawyer should specialize successful property readying and beryllium licensed successful their state.
Ease of use: Platforms should beryllium straightforward and person state-specific ineligible compliance.
Client reviews and recommendations: Seeking referrals from fiscal advisors, trusted friends oregon nonrecreational networks tin assistance guarantee reliability.

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Women should instrumentality a broad inventory of their wealth, including:

Financial assets, specified arsenic slope accounts, status funds, investments and beingness security policies.
Real property and property, including homes, rental properties, abrogation homes and land.
Digital assets similar online accounts — which tin see online slope oregon concern accounts, cryptocurrency accounts, PayPal oregon Venmo accounts, societal media accounts, email accounts, unreality retention and more, successful summation to immoderate intelligence spot and domain names.
Business interests, including ownership stakes, succession plans and agreements.
Personal valuables and heirlooms, specified arsenic jewelry, art, collectibles and sentimental items.