Financial Literacy and Estate Planning in American Households.

This article provides a basic overview of the way that financial literacy, financial knowledge, and its application works for one's basic estate planning using the 2021 National Financial Capability Study (NFCS) dataset. Further, the article expands the link between financial literacy and individuals who have established wills. The research offers implications for financial service professionals who are addressing estate planning for their clients. [ABSTRACT FROM AUTHOR]