Wealthy Express Interest in Estate Planning

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Wealthy Express Interest in Estate Planning

Affluent individuals who are still in the work force say they are more likely to explore estate planning than a host of other financial products and services as they approach retirement age.

Some 44% are apt to use estate planning services, according to a Spectrem Group survey of the affluent. Estate planning outpolled financial planning (38%), long-term care insurance (34%), banking services (30%), fixed annuities (19%) and variable annuities (10%).

Affluent retirees largely agree with the choices of affluent workers, saying they favor estate planning (32%), financial planning (31%), long-term care insurance (28%), banking services (28%) and fixed annuities (18%). They are bigger fans, however, of variable annuities, 15% vs. 10%.

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