Estate Planning Is Becoming a Must-Have Financial Advisor Service, as 68% of Advised Clients Say They Would Consider Switching to Get It

Trust & Will's third annual Financial Advisor Report reveals a generational shift in who works with an advisor, as economic anxiety pushes Americans to prioritize estate planning

SAN DIEGO, July 7, 2026 /PRNewswire/ -- Trust & Will, the leader in online estate planning, today released the findings of its 2026 Financial Advisor Report, a national survey of 1,500 U.S. adults on what Americans expect from financial advisors when it comes to estate planning. The results point to a clear shift: estate planning has moved from an advisor nice-to-have to a service clients expect, and a reason they will switch advisors to get it.

According to the report, 61% of Americans say financial advisors should offer estate planning as part of their services, and 68% of advised clients say they would consider switching to another advisor that offers it. Among advised Gen Z and Millennial clients, that figure is roughly eight in 10.

Now in its third year, the report also documents a generational reversal in who works with a financial advisor. Gen Z advisor adoption jumped from 28% to 42% in a single year, and Millennial adoption rose from 29% to 39%, while Baby Boomer adoption fell from 31% to 24%. The fastest-growing client segments are now the ones most insistent that advisors handle estate planning.

The 2026 survey followed a year of elevated cost-of-living pressure and market volatility, and the data shows that environment is making estate planning feel urgent. More than half of Americans (54%) report higher financial anxiety than a year ago, and half (50%) say economic conditions have made them more motivated to get their estate planning in order. In 2026, for the first time, a near-majority say the economy itself is pushing them toward estate planning.

"For years, the challenge in estate planning was convincing people it mattered. That is no longer the problem. Americans know they need a plan, and this year they are telling us they want their financial advisor to help them build it," said Cody Barbo, Co-Founder and CEO of Trust & Will. "The advisors and firms that treat estate planning as a core part of the relationship, not a referral they hand off, are the ones who will earn and keep the next generation of clients."

The report surfaced several additional findings that reshape how advisors and clients approach estate planning:

• The advisor now edges the attorney as the preferred channel: Given the choice, more Americans would prefer to build an estate plan with a financial advisor (27%) than with an estate planning attorney (24%), and 19% want both involved.
• Clients expect accountability: 68% believe an advisor has a responsibility to flag an outdated or incomplete estate plan, and 45% say it should happen without being asked.
• Proactive conversations work: Among advised clients, 82% say an advisor has raised estate planning at least once, and 56% felt more urgency to act as a result.
• The Great Wealth Transfer gap is real: 48% of Americans feel unprepared for the estimated $84 to $124 trillion 'Great Wealth Transfer,' with Gen X the least prepared generation.
• AI is welcome, with conditions: 41% of Americans are comfortable using AI to create estate planning documents, rising to 57% of Gen Z versus 17% of Baby Boomers, but most want a human professional involved for complex situations.

The 2026 Financial Advisor Report is the third installment in Trust & Will's annual series examining the intersection of estate planning and financial advice. The random double-opt-in online survey of 1,500 U.S. adults was fielded between June 4 and June 10, 2026, and carries a margin of error of approximately plus or minus 2.5 percentage points at the 95% confidence level.

To view the full 2026 report, including interactive and embeddable charts, visit: https://trustandwill.com/learn/financial-advisor-report-2026

About Trust & Will
Founded in 2017, Trust & Will is the leading digital estate planning platform in the U.S., trusted by over one million families. Our simple, secure, and attorney-approved online solutions empower Americans to create wills, trusts, healthcare directives, and other essential estate planning documents tailored to state-specific laws. As a certified B Corporation, our mission to help every family leave a meaningful legacy is embedded into our business model, ensuring estate planning is accessible, affordable, and inclusive for all.

Trust & Will is advancing modern legacy planning with AI-driven innovation, helping families and professionals simplify complex decisions and accelerate collaborative workflows.

Our platform supports 26,000+ financial advisors and 145+ enterprise partners, including banks, financial institutions, attorneys, nonprofits, real estate agents, and technology platforms. Notable partners include AARP, Fifth Third Bank, UBS, USAA, LPL Financial, and Northwestern Mutual. With more than one million users and over $300 billion in self-reported estate assets, Trust & Will is redefining estate planning as a strategic pillar of modern financial wellness.

Trust & Will has been consistently recognized for innovation and leadership. In 2026 alone, the company was named to Fast Company's World's Most Innovative Companies, the Financial Times' Americas' Fastest-Growing Companies, the Inc. Regionals: Fastest-Growing Private Companies, Forbes' America's Best Startup Employers, and received the FinTech Breakthrough Award for Personal Finance Product of the Year. The company has also earned spots on the CNBC Disruptor 50, Inc. 5000, and Deloitte Technology Fast 500™ lists, and was named a winner at the 2025 Wealth Management ("Wealthies") and ThinkAdvisor Luminaries awards, and recognized as a "Rising Star in Estate Planning" in the 2025 Kitces Research on Advisor Technology report.

Learn more at trustandwill.com.

SOURCE Trust & Will