More Wealthy Individuals Less Like to Have Wills

According to a study by PNC Advisors reported in the April 2005 issue of Worth magazine, 43% of individuals with at least $10 million in investable assets have not executed wills.  However, only 30% of individuals with investable assets between $500,000 and $1,000,000 have not prepared wills.

The survey also studied the reasons why these individuals have not prepared wills.  56% indicated that they merely have procrastinated making an estate plan while 12% feared confronting their own mortality.