Even 73% of techno-savvy millennials agree, according to WealthCounsel’s recent inaugural Estate Planning Awareness Survey:
Given the perception of estate planning as a confusing topic, it makes sense that three-quarters (74%) of Americans value professional guidance in learning more about it. And who do they think can best provide such guidance? Not surprisingly, attorneys are the clear choice as the top source of information on estate planning. About threequarters of all respondents (76%) — and Millennials more specifically (73%) — think an attorney is an essential element in creating an estate plan.
Among respondents who report having an estate plan in place, a significant number
turn to attorneys over other sources of information. For example, 42% say that an
attorney was their first choice for information when they were creating an estate
plan, and only 8% turned to online legal services when first seeking advice on how to
develop a plan.
But even with such a strong consensus on where to go for guidance, the survey
reveals another point underscoring the public’s general sense of confusion about
estate planning: more than half of respondents (53%) say that it’s difficult to find an
advisor they trust to create an estate plan. This suggests that attorneys have a built-in
opportunity both to educate the public about planning and make their own services
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