What is Estate Plan Readiness Score?
An estate plan readiness score is a 0 to 100 snapshot of how well your estate plan covers the dimensions that matter most across a typical household: core documents (will, trust where appropriate), family situation, asset coverage, healthcare and incapacity, and recency. It is general planning information, not legal advice, and is not a substitute for a licensed estate attorney.
The Formula
Score = Weighted Sum (Core Documents + Family Situation + Asset Coverage + Healthcare + Recency)
Recency is the silent compounding category: plans untouched for over a decade routinely have outdated beneficiaries, named guardians who no longer fit, and references to old state rules.
Worked Example
A 47-year-old parent with a 12-year-old will that does not reflect a recent move and a new child, an unfunded trust, one healthcare directive, beneficiaries on 401(k) reviewed a year ago.
- Core Documents: 6 (outdated will, unfunded trust)
- Family Situation: 4 (new child not addressed)
- Asset Coverage: 7 (some beneficiaries current)
- Healthcare and Incapacity: 5 (partial coverage)
- Recency: 3 (over 10 years since attorney review)
📌 Score around 50. The highest-leverage move is an attorney review focused on the post-move and post-birth updates. This is general information, not legal advice.
Why This Matters
Default intestate law rarely matches intent
Without a current plan, state intestate succession decides who inherits and who serves as guardian for minor children. The result usually differs from what families would have chosen.
Plans drift with life and law
Marriages, divorces, births, deaths, and moves across states all shift what an estate plan should say. A 3-5 year cadence catches the drift before it produces costly probate.
Probate costs are avoidable with planning
Probate typically costs 3-7% of the gross estate value according to AARP research, and the process takes 6-18 months in most states. A funded revocable living trust, properly titled accounts, and current beneficiary designations bypass probate entirely for most household assets.
Common Mistakes
❌ Treating an old will as sufficient indefinitely
A will from before a major life event (move, marriage, birth, business sale) is often functionally outdated even if it remains legally valid. A short update is usually inexpensive insurance.
❌ Skipping healthcare and incapacity documents
A will handles death; powers of attorney and healthcare directives handle incapacity. Without them, families face avoidable court processes during an already difficult time.
❌ Creating a trust but never funding it
An unfunded revocable living trust provides no probate avoidance because assets not titled in the trust name pass through the will and into probate anyway. Retitling bank accounts, real property, and investment accounts into the trust is the step that makes the trust functional.
Industry Benchmarks
| Category | Good | Average | Poor |
|---|---|---|---|
| US adults with a will | Have one and recent | About half of adults | No will, especially under age 50 |
| Recommended review cadence | Every 3-5 years | 5-10 years | Once and forget |
| Basic estate-attorney cost (US) | $300-1,000 simple will and POA | $1,000-2,500 will plus trust | $2,500+ for unusual complexity |
Source: Gallup Estate Planning Survey, Caring.com Wills Survey, and AARP Estate Planning research
Benchmark data sourced from Gallup Estate Planning Survey, Caring.com Wills Survey, and AARP Estate Planning research.