A recent survey from America has looked at estate planning activities of the wealthy, to determine how prepared they are to ensure the security and succession of their family’s wealth.

Private bank U.S. Trust questioned 711 high net worth adults in the U.S. with more than $3 million in investable assets, and found that although the basics, such as a written will, are in place, comprehensive planning is incomplete. Survey respondents cited the top three goals of estate planning as (1) ensuring the needs of a spouse are met; (2) minimising estate taxes; and (3) minimising the administrative burden of settling one’s estate.

Despite awareness of the importance of estate planning, the study found:

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