Additional images (results graphed by age, income, and more) can be found at: www.uslegalwills.com/blog/americans-without-wills
NEW YORK, NY. – June 21, 2016 – A Google Consumer survey by USLegalWills.com suggests that previous surveys may have under-reported the number of Americans without a Will, by not including those who have a Will that is out-of-date. The survey reported that 63% of Americans do not have a Will, showing no real change from 2014. However, a statistic that was not published before now reveals that 9% of Americans have a Will that is out-of-date. This means that 72% of Americans do not have an up-to-date Last Will and Testament.
“We really wanted to explore this group after anecdotally hearing from people who had a Will, but had it written before they got married or had children,” explained Tim Hewson, CEO of PartingWishes Inc., the parent company of USLegalWills.com. “In essence, although they technically had a Will, it was worthless.”
Particularly, seniors (aged 65+) are the most likely age group to have a Will that is out-of-date (15%). Of the 65% of seniors who said that they have a Will, almost one in four have Wills which are out-of-date.
The survey showed a positive relationship between age and the probability of having a Will:
• 18-24: 85% do not have a Will, 10% have an out-of-date Will, and 5% have an up-to-date Will.
• 23-35: 80% do not have a Will, 6% have an out-of-date Will, and 14% have an up-to-date Will.
• 35-44: 67% do not have a Will, 8% have an out-of-date Will, and 25% have an up-to-date Will.
• 45-54: 53% do not have a Will, 11% have an out-of-date Will, and 36% have an up-to-date Will.
• 55-64: 52% do not have a Will, 8% have an out-of-date Will, and 40% have an up-to-date Will.
• 65+: 35% do not have a Will, 15% have an out-of-date Will, and 50% have an up-to-date Will.
Even when discounting younger adults, 53.5% of Americans aged 35 and older responded to not having a Will; 9.5% responded to having a Will that is out-of-date, leaving only 37% with a Will that reflects their current financial and personal situation.
The income group least likely to have up-to-date Wills was in the $100,000+ annual income range.
The income group most likely to have up-to-date Wills was in the annual income range of $25,000-$99,999.
There were no significant differences when comparing across gender, region, or urban density.
Graphs of the survey data can be found on the most recent USLegalWills.com blog article.
Comparison to Canada
LegalWills.ca conducted the same survey in Canada as USLegalWills.com, over the same period of time. The Google Consumer Survey of 2,000 Canadians shows similar results to the American survey: 62% of Canadians do not have a Will, 74% do not have a Will that is up-to-date. Similar trends were also noticed across age.
The Canadian survey showed no significant differences between respondents based on gender or state/provincial region, but did see a significant difference when comparing urban density. The proportion of Canadians without a Will was higher in suburban areas (75%) than in urban areas (62%).
“This reflects a broken system,” said Tim Hewson, “we understand that everybody should have a Will, but only a small percentage have created one, and an even smaller number have managed to keep it up-to-date with their personal or financial situation.”
Data and graphs from the Canadian survey can be found on the most recent LegalWills.ca blog article.
USLegalWills.com is operated by PartingWishes Inc., an independent organization which works with lawyers in the United States to provide legal document creation services to the public. Formed in 2000, the company has since helped hundreds of thousands of people to create legal documents in an easy, convenient, secure, and affordable manner.
PartingWishes Inc. is also the parent company of LegalWills.ca, LegalWills.co.uk, and ExpatLegalWills.com
For more information, visit www.USLegalWills.com
The USLegalWills.com survey was conducted within the United States by Google Consumer Surveys, June 2016, among 2,012 adults aged 18 and older, and has a root square mean error of 1.4%.
The LegalWills.ca survey was conducted within Canada by Google Consumer Surveys, June 2016, among 2,000 adults aged 18 and older, and has a root square mean error of 4.7%.
Results are weighted by age, gender, and region.
For full information on Google Consumer Surveys’ methodology and validity, visit here.
Company Name: USLegalWills.com
Contact Person: Tim Hewson
Email: Send Email
Address: 1732 1st Ave, Suite #26505
City: New York
State: New York
Country: United States