Estate Planning Gaps Persist Among Race and Gender Communities in 2025

Caring's 2025 Wills Survey found that while the amount of adults with a will stayed about the same from 2024, some racial and gender groups experienced changes in their reasons for estate planning and types of documents they used. Black respondents had the most significant decline in will possession, while more Hispanic respondents began planning their estates due to employee benefits. Use of other legal documents, like powers of attorney, declined in most groups, pointing to potentially uneven awareness and access to estate planning. These survey findings spotlight the importance of equitable and inclusive estate planning resources and efforts across racial and gender groups.

 

In 2024, 24.2% of all respondents of our Wills Survey, or about 600 people, said they had a will. In 2025, the number held steady at 24%, or about 609 people. 

The gender and racial group breakdown tells a different story, with some communities making small gains while others experienced noticeable declines. We explored the differences in responses between the two years to better understand how estate planning behaviors are changing across demographic groups. These insights could guide outreach and resources toward communities most at risk of being unprepared.

Caring has conducted an annual Wills Survey for the past decade to uncover insights about Americans’ estate planning habits. We compared data from our 2024 wills survey and 2025 survey to identify year-over-year trends in estate planning behavior. We surveyed a similar number of people both years — 2,481 in 2024 and 2,541 in 2025 — and asked the same questions to ensure meaningful comparisons across demographics.

In 2025, 25% of men and 23% of women reported having a will, numbers that are largely unchanged from 2024 (25.6% of men and 22.8% of women). 

Disparities between racial groups were more notable. Will creation among Black respondents dropped from 19.4% in 2024 to 16% in 2025, and among "Other" racial groups, it fell from 25.8% to 23%. Hispanic respondents' will creation dipped only slightly, from 14.6% in 2024 to 14% in 2025. Will ownership only slightly increased among white respondents from 27.2% in 2024 to 28% in 2025

Note: All responses discussed in this section about reasons for estate planning are from a "select all that apply" question, so percentages may exceed 100%.

Estate planning can become more urgent for adults transitioning from independent living to higher levels of care, such as memory care. These changes can include medical, financial, and legal decisions that are easier to manage with a will or other estate documents in place. 

Our surveys illustrate that connection: Retirement or an age-related milestone, which could include a move to assisted living, was the top reason respondents across all gender and racial groups created an estate plan in 2024 and 2025.

The death of a loved one was the next highest motivator, increasing four percentage points from 22% in 2024 to 26% in 2025. The percentage of respondents citing death of a loved one rose at least slightly among all gender and racial groups, except for Hispanic respondents. 

Notably, the percentage of Black respondents who said the death of a loved one influenced their estate planning had the biggest jump, from 24% in 2024 to 45% in 2025. This leap in motivation to estate plan may relate to the growing awareness that not having a will can erode wealth within Black families, especially in terms of avoiding land assets being labeled as an “heirs property.”

Expanding the family, often via marriage or a birth, remained the third most-common reason to start estate planning. While most group responses stayed flat, the share of Hispanic respondents who selected family expansion as their reasoning rose from 23% to 27% from 2024 to 2025, while responses from "Other" racial groups declined from 22% to 18%.

According to the National Association of Realtors, the first-time homebuyer market dipped from 32% in 2023 to 24% at the end of 2024. It's becoming more difficult for Americans to buy homes, due to soaring house prices that outpace income growth.

Rising housing costs could be holding some groups back from reaching asset-related milestones that often lead to estate planning, like buying a home. 

In 2024, 26% and 20% of Black and Hispanic respondents, respectively, marked buying a home or another asset as a reason they started their estate planning. In 2025, those numbers dropped to 20% for Black respondents and 15% for Hispanic respondents.

The percentage of homeownership as a reason to update estate planning documents also dropped among women, from 18% to 14%. In contrast, responses from White (13% to 15%) and male (15% to 18%) participants ticked up slightly.

In 2025, 22% of Hispanic respondents said an employer benefit prompted them to begin planning their estates, up from 13% in 2024, marking the largest increase of any group. White respondents also showed a modest rise from 7% to 11%. Also, 14% of men and 12% of women said an employer benefit motivated their estate planning in 2025, up from 12% and 9%, respectively, the previous year. 

Slightly fewer Black (23% to 21%) and "Other" (17% to 16%) respondents named this as a factor compared to 2024.

Major events, like war, mass violence, or a changing political climate sparked a higher rate of estate planning in 2025, particularly among Black and Hispanic respondents. The percentage of Black respondents who indicated this as a motivator for future planning rose from 18% in 2024 to 23% in 2025. The increase for Hispanic respondents was similar, from 14% to 22%. 

The share of women choosing this reason also rose slightly, from 11% to 13%. Percentages among male, white, and "Other" respondents remained largely unchanged.

In both 2024 and 2025, more than half of the respondents from each racial and gender group said they don't have any estate planning documents. Three groups — white, Hispanic, and male — were less likely to report having no estate planning documents in 2025 versus 2024. Responses from "Other" racial groups didn't change between the two years, and the percentage of women without a formal estate plan rose slightly in 2025, from 58.2% to 59%.

The most significant change occurred with Black respondents. In 2024, 55.2% had no legal documents in place. This number rose to 62% in 2025, a change of nearly seven percentage points.

A will isn't the only legal document you can use to outline end-of-life wishes  — you can also use a trust. In a trust, you transfer your assets to a trustee, who manages the trust for beneficiaries. While more complex, trusts can offer more control over asset distribution and often avoid probate.

The benefits of a trust may have sparked more respondents to create a trust in 2025. White, Hispanic, and "Other" respondents each had an increase of at least three percentage points in reporting they had a trust without a will in 2025 versus 2024. Black respondents had a slight decline, dropping from 9.9% to 8%. 

Among gender groups, men had a notable increase in reporting having a trust without a will, rising from 11.5% in 2024 to 15% in 2025. The share of women in this category also grew, reaching 11%, up from 9.7% the year before.

While trust ownership showed growth in 2025, fewer respondents in almost all groups reported using “other” estate planning documents, such as power of attorney, or legal forms that allow someone to make financial or medical decisions on their behalf. Even without a will or trust, having some documents in place can help clarify your wishes and reduce the burden on loved ones.

Black respondents had the most significant decline in “other” estate planning documents, from 8% in 2024 to 4% in 2025. White (5.7% to 4%), Hispanic (4.1% to 3%), and female (4.5% to 3%) respondents had smaller decreases. The only group that increased its use of “other” estate planning documents was "Other," which rose from 3% to 7%. Male responses stayed relatively steady, decreasing only slightly from 6.4% to 6%.

Despite consistent overall will creation rates, our 2025 Wills Survey data reveals widening gaps in estate planning across racial and gender lines, with some groups falling further behind and others showing signs of progress through partial planning or tools like trusts. Consider starting your estate planning well before transitioning to assisted living or a nursing home to ensure clear documentation of your wishes and keep your loved ones protected. Browse our surveys and research hub for exclusive data about wills, caregiving, senior well-being, and more.

• Bell, Linda. (2024). Homeownership is getting unaffordable for the middle class. Bankrate
• Estate planning basics for federal employees. (2025). Federal Employees Benefit Association
• Rothstein, Leah. (2023). The role of ‘heirs property’ in eroding Black families’ wealth. Economic Policy Institute 
• What is a power of attorney (POA)? (2024). Consumer Financial Protection Bureau
• What is a trust? (n.d.). Fidelity