New findings highlight increasing expectations for comprehensive estate planning services and technology including AI

SALT LAKE CITY, November 19, 2024--(BUSINESS WIRE)--Vanilla, the award-winning estate planning software company, today announced the release of its second annual State of Estate Planning report, which surveyed 1,000 U.S. consumers on their estate planning priorities, challenges, and expectations.

Vanilla’s 2025 State of Estate Planning report reveals that consumers are seeking comprehensive services and strategies from advisors to preserve both their wealth and their personal values across generations. It also highlights the need for advisors to harness technology to efficiently manage complex estate plans and provide comprehensive wealth advisory with the personal touch that clients value.

"Modern estate advisory extends beyond simply protecting assets—it focuses on preserving clients’ legacies, values, and intentions across generations," said Gene Farrell, CEO, Vanilla. "This year’s findings highlight valuable opportunities for advisors to strengthen client relationships by providing estate planning services that tackle both financial and emotional complexities."

Key insights include:

• Demand for comprehensive advisor services

  • 80% of respondents expect their advisors to include estate planning as part of their services, either directly or in collaboration with estate planners, reflecting a growing demand for integrated financial and legacy planning.

  • Nearly 60% are skeptical that financial advisors can consistently outperform the market with stock picks, underscoring the opportunity for advisors to shift focus toward offering comprehensive wealth management services rather than focusing solely on investments​.

  • Nearly 90% of respondents believe that tax expertise is important when choosing an estate planner.

• Comfort with technology when combined with human guidance

  • 82% are open to their advisors using artificial intelligence or automated software for estate planning, especially when there is professional oversight and it reduces costs.

  • Nearly 75% of respondents would be more likely to use an online estate planning platform if it offered personalized guidance from a live advisor.

  • Two-thirds of respondents want clear, step-by-step guidance and access to legal advice when using online estate planning tools, signaling the importance of combining digital services with professional support​.

In addition to new data on consumer preferences, the report offers financial advisors actionable insights into the shifting landscape of client needs, where a holistic approach to estate and financial planning is becoming essential. Overall, the findings illustrate how the evolving estate planning landscape offers significant opportunities for advisors to deepen client relationships and expand their services.