2013 US Trust Survey Shows Amazing Insights on Wealth and Worth

estate planningThe 2013 US Trust Insights on Wealth and Worth (the annual survey of high net worth and ultra high net worth Americans) annual survey results have been posted Online.  See below for a link to more information and to download key findings.

The survey studies attitudes and perceptions about:

  • Growing and preserving wealth
  • Transferring assets to their heirs
  • Meeting their responsibilities to family members
  • Building a legacy of philanthropy
  • Maintaining family privacy and security
  • Selecting financial advisors
  • Building a thriving business

I was amazed to find that many wealthy families do not have sufficient estate plans. Interesting observations from the 2013 report include that 72% of survey respondents do not have a comprehensive estate plan. It is interesting to note that 74% stated they had a will but more than half did not have a durable power of attorney, 47% did not have a health care proxy and 66% have never established a trust of any kind.

There is also a strong indication that the wealthy are assuming financial responsibility for extended family, feel strong responsibility to provide substantial financial assistance to adult family members beyond themselves and their spouse, including parents (63% pledged support to elderly parents and in-laws even if it jeopardized their own financial security), siblings (55% of respondents) and adult children (56% provide support to adult children). Nearly half have already provided substantial financial support to other relatives, including parents (19%), in-laws (10%), siblings (18%) and adult nieces and nephews (18%).

Overall, while there were some surprises, the information in this years’ report does show some shifting in trends as it relates to wealth and worth.  What is increasingly evident is that no matter what class you may be a part of, many Americans have not taken care of creating and implementing strong estate plans.  I encourage you to take some time to determine what your needs are beyond the basic will, and contact an estate planning professional to assist you in setting up and implementing a plan that’s just right for you.

Source:  www.ustrust.com More information and download the report here:



Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning.  She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about.  Annino recently released an updated version of her successful book, Women and Money: A Practical Guide to Estate Planning to include recent changes in the laws that govern how we protect our assets during and beyond our lifetime.  To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

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