SOURCE: Rocket Lawyer

Rocket Lawyer

August 02, 2016 08:00 ET

Rocket Lawyer's Annual Make-a-Will-Month Survey Reveals Strong Need to Educate Consumers on Estate Planning

Survey Highlights Misconceptions Around Estate Planning and Consumers' Understanding of the Digital Afterlife

SAN FRANCISCO, CA--(Marketwired - Aug 2, 2016) - Rocket Lawyer, the leading provider of affordable legal services, announced today the findings from its annual Make-a-Will-Month survey conducted by Harris Poll. The survey of 2,000 consumers found that more than half (64 percent) of Americans do not have a Will. The number one reason why people haven't created a Will is that they haven't gotten around to it yet, say 55 percent of those surveyed.

Contemplating our Digital Afterlife
With 84 percent of consumers indicating that they own digital assets, the conversation around estate planning now extends to the digital afterlife, especially considering that 7 in 10 people have not appointed a digital executor -- the person named to manage digital assets after death. Even for individuals who have created Wills, 39 percent have not appointed a digital executor because they are not aware a separate digital executor is needed.

"Consumers are highly invested in their online lives, yet we've uncovered how unprepared so many individuals are when it comes to planning for the future of their digital assets," said Charley Moore, Founder and CEO of Rocket Lawyer. "We want to educate consumers on the basics of estate planning while providing affordable and simple tools so that anyone can protect their loved ones and their legacy, no matter what."

Additional key findings from Rocket Lawyer's Make-A-Will Month survey include:

  • A majority of Americans (71 percent) believe that online banking and financial accounts are most important to protect in the case of death, followed by email accounts (38 percent), and e-commerce and social media accounts (both 23 percent).
  • Millennials (23 percent) are more interested in having a pet provision in their Wills than baby boomers ages 55+ (14 percent).
  • Nearly a third (31 percent) of Americans who have a Will and have not appointed a digital executor failed to do so because they assumed their family and loved ones would be able to access, manage and delete their digital files.
  • Twenty percent of baby boomers age 65+ say they don't have any digital assets while 91 percent of millennials say they do have digital assets.

For more information about Rocket Lawyer's Make-a-Will Month, please visit: https://www.rocketlawyer.com/make-a-will-month.rl

About Rocket Lawyer®
At Rocket Lawyer, we believe everyone deserves affordable and simple legal services. Since 2008, we've helped millions of families and small businesses take care of their legal matters so they can focus on what really matters. From free legal documents and business incorporation to discounted rates with outstanding attorneys, we're there to help every step of the way. For more information on Rocket Lawyer, please visit http://www.rocketlawyer.com and follow Rocket Lawyer on Twitter, Facebook and Google+.

About The Harris Poll
Over the last 5 decades, Harris Polls have become media staples. With comprehensive experience and precise technique in public opinion polling, along with a proven track record of uncovering consumer motivations and behaviors, The Harris Poll has gained strong brand recognition around the world. Contact ConsumerInsightsNAInfo@nielsen.com for more information.

Survey Methodology
This survey was conducted online within the United States by Harris Poll on behalf of Rocket Lawyer from July 8-12, 2016 among 2,000 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact rocketlawyer@highwirepr.com.

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