While having an estate plan is important for everyone, statistics have long shown that Black Americans are less likely to have basic legal documents like a will in place. According to a 2024 report by Caring.com 19% More Black Americans Have a Will Than in 2020 when only 27% of Black Americans reported having a will, compared to 41% of white Americans. There are socioeconomic, cultural, and historical factors that help explain this disparity.
The legacy of systemic racism in America has deprived many Black families of the opportunity to build substantial generational wealth over generations. Discriminatory policies like redlining restricted where Black people could live, limiting their ability to acquire property. This ongoing wealth gap makes estate planning seem less critical for those with fewer assets to pass down.
However, a will or trust is still important even for more modest estates. Dying without a will means states decide outcomes instead of following one's preferences regarding guardians for children and distribution of possessions. Cultural norms have also contributed, as openly discussing death and planning for it did not always align with traditional ways of processing grief in the Black community.
Financial barriers compound the issue, as creating an estate plan often requires working with an attorney. But legal fees can seem prohibitive for lower-income families already facing financial strain. Greater awareness of affordable alternatives is needed nationwide. Boston Mobile Notary Service aims to directly address these barriers through a fully mobile estate planning execution service. As the name suggests, our CNTDA-certified notaries come directly to clients’ homes or locations of their choosing. This added convenience removes transportation and scheduling challenges that can deter estate planning.
We offer an online estate planning tool that guides users through creating basic documents, which are then properly notarized and executed by our CNTDA-certified notaries. CNTDA notaries receive specialized education in estate planning documents and living trust presentations. For more complex estates, we partner with attorneys and handle notarization/presentation.
In addition to providing peace of mind, an estate plan is a powerful tool for building generational wealth. It allows families to strategically transfer assets between generations and reduce estate tax burdens. A properly drafted will or trust ensures children and grandchildren directly inherit what their parents and grandparents worked to leave behind. This can help close racial wealth gaps that have persisted for centuries.
By educating communities and offering affordable options, Boston Mobile Notary Service is committed to closing the gap in estate planning accessibility. Our goal is to empower all families to care for loved ones beyond life and achieve financial security for future generations. Contact us to learn more.