Women leaders often juggle multiple roles -- founder, executive, mentor -- while caring for loved ones who also need their time and attention. It’s not surprising, then, that 58% of women in the U.S. still do not have estate planning documents.¹
Without a comprehensive estate and trust plan, much of what you’ve worked so hard to build could go
unprotected.
This guide walks you through the essentials, providing strategies to help you plan confidently and secure your
future on your terms.
Why Estate Planning Matters for Women in Leadership
Women are starting businesses at record rates and increasingly holding senior leadership roles. But many delay estate planning, frequently because they’re busy building, scaling, or managing competing priorities.
A thoughtful estate plan can protect your assets, ensure a smooth business succession, and bring clarity to your family. It also helps you plan for incapacity, support the causes you care about, and pass on your wealth to the next generation.
If you die without a will (known as dying intestate) state courts will decide how to distribute your property, who
will care for minor children and, potentially, how your business assets and ownership are transferred.
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Essential Estate Planning Documents: A Quick Checklist
The legal documents you’ll need will depend on your business structure, ownership arrangements, and marital status.
☐ Last Will and Testament
Directs how assets are distributed, appoints an executor, and names guardians for minor children, dependents, and pets.
☐ Revocable Living Trust
Enables you to appoint a trustee to manage your personal and business assets if you become incapacitated or pass away.
☐ Durable Powers of Attorney
Authorizes someone you trust to make financial and medical decisions on your behalf if you’re unable to do so.
☐ Advance Healthcare Directive (Living Will)
Documents your wishes for emergency medical treatment and end-of-life care.
☐ Buy Sell Agreement
Details how a partner’s share of a business will be transferred if they die or leave the company.
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Why Estate Planning Looks Different for Women
Estate planning is never one-size-fits-all. But for women, distinct financial and life realities often require a more tailored approach:
• Earnings & Wealth Building: Although 45% of women are now primary household earners, full-time
working women still earn about 76% of what fathers earn.2 Increased financial responsibilities paired
with lower potential lifetime earnings make intentional estate planning essential.
• Longevity: Women typically live longer than their spouses, increasing the need to plan for extended
retirements, health and long-term care costs, and shifts in financial and legal responsibility.
• Caregiving Roles: Women are five times likely to step away from work to care for children, aging parents
(or both) which can create lasting financial strain.3 A well-structured plan helps protect both caregivers
and dependents.
• Wealth Transfer: As women inherit and control more wealth, strategic planning (often using trusts) can
help protect assets, reduce taxes, and support future generations.
Trust Planning for Women Executives & Founders
Trusts are often the cornerstone of an effective estate plan for women in business, offering flexibility, privacy,
and control. Important considerations to keep in mind:
1. Business Ownership & Succession
If you own a business, your estate plan should work hand-in-hand with succession planning, providing a
structured approach for transferring your business if you retire or pass away. Key questions to address:
• Should ownership stay in the family, transfer to partners, or be sold?
• Who will take on key roles and responsibilities?
• Should I create a business trust or are there better options?
Trusts can help protect your business assets and reduce estate, gift, and transfer taxes. Here are three options to discuss with your advisory team:
• Asset Protection Trusts: Irrevocable trusts designed to shield assets from creditors or legal claims, often
allowing you to remain both the grantor and beneficiary.
• Grantor-Retained Annuity Trusts (GRATs): Enable the tax-efficient transfer of business assets to family
members while you retain income during the trust term.
• Irrevocable Life Insurance Trusts (ILITs): Hold life insurance outside your estate, providing liquidity to
heirs while minimizing estate and gift taxes.
2. Incapacity Planning
An unexpected illness or injury can quickly disrupt even the most successful career, especially if you’re actively running a business. A revocable living trust allows a successor trustee to step in seamlessly and manage trust- owned assets if you become incapacitated. A living trust can help:
• Avoid a lengthy and costly probate process.
• Keep your financial affairs private, unlike a will.
• Maintain flexibility to update the trust as your life and business evolve.
• Reduce conflict and support multigenerational planning.
A Living Trust, together with a healthcare power of attorney and an advance healthcare directive, helps safeguard your business and ensure that your preferences for care are honored.
With so much at stake, consider appointing a corporate trustee like National Advisors Trusts with a proven track record and strong understanding of trust accounting as your trustee and/or successor trustee.
3. Balance Family, Financial Independence, Philanthropy
Women leaders often navigate complex family dynamics included blended families, caregiving responsibilities, and adult children at different life stages. Marital, discretionary and other irrevocable trusts can help:
• Protect assets for children from prior relationships.
• Shield wealth from creditors, lawsuits, and divorce.
• Control how and when beneficiaries receive their inheritance.
• Preserve financial independence for a surviving spouse or partner.
• Reduce the estate tax burden on your heirs.
Research shows 85% of women influence or make philanthropy-related decisions and are more likely to spread giving across multiple organizations.4 By establishing charitable trusts you can support numerous qualified charities, provide income for you or your family, and create a legacy that reflects your values.
Take Control of What Comes Next
Whether you’re growing a company or preparing for a transition, a well-designed estate and trust plan helps
protect what you’ve built and carry your vision forward.
Speak with your financial advisor, estate planning attorney, and accountant today about creating a plan to
protect your loved ones, your business, and your legacy. If you don’t have an advisor, connect with one in our growing national network of 6,000+ professionals.
Sources
1 https://finance.yahoo.com/news/women-less-likely-men-estate-120035230.html
2 https://www.americanprogress.org/article/breadwinning-women-are-a-lifeline-for-their-families-and-the-economy/
3 https://www.guardianlife.com/reports/caregiving-in-america
4 https://ssir.org/articles/entry/wealth-transfer-women-philanthropy#.
