Gen Z single women are buying homes. They need an estate plan
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According to a new study, the number of women in their 20s is increasing. They may consider pairing the purchase with another financial task: Creating an estate plan.
More than one-third, or 35%, of Generation Z homebuyers are single women, according to the National Association of Realtors’ 2026 Generational Trends of Home Buyers and Sellers reportBased on transactions made between July 2024 and June 2025. Gen Z buyers were between the ages of 18 and 26.
The study shows that this share is up more than 30% from the previous year and is the highest among all age groups. This is also almost double the 18% of single male Gen Z buyers.
Financial advisors say these new homeowners may have purchased what may now be their largest asset but haven’t yet taken steps to protect it.
An estate plan is part of this evaluation. Simply put, it is a set of legal documents that spell out both what you want to happen to your assets (including your home) at the time of your death and who has the authority to make decisions on your behalf if you become incapacitated at any point before that date.
“You find the rare person who considers it … but the overwhelming majority buy the house and then go right back to the 40- or 50-hour work week,” said certified financial planner Jeff Judge, managing partner of Chesapeake Financial Planners in Forest Hill, Maryland.
60 percent of women do not have an estate plan
Single women make up a larger proportion of long-term homeowners than single men, but the gap is narrowing. According to Pew Research Center. According to the group, 58 percent of the approximately 35.2 million homes owned by unmarried Americans in 2022 were owned by women, while this rate reached 42 percent for men. This rate was 64% and 36% respectively in 2000.
However, 60 percent of women do not have an estate planning document, compared to 50 percent of men. Trust & Will’s 2026 Estate Planning Report. And among all singles, 16% have a will, a key estate planning document, compared to 37% of married individuals.
At the same time, owning a home can help encourage estate planning: 40% of homeowners have a will, while 16% of renters have one, according to the Trust & Will report.
Options on how to leave your home to an heir
For single homeowners, a will is usually a document in which you specify who will inherit your home if you die. If you die without a will (called a dying will) or if you do not designate an heir for your home, state laws determine who inherits the property.
“Make sure you at least have a will,” the judge said. “This ensures that if something happens, the house goes to whoever you want it to go to.”
Remember that assets that pass through a will are generally subject to probate. This is the process of deciding one’s estate and involves court approval of a will. taxes and debts are paid and assets are distributed to heirs.
Make sure you have at least a will.
Jeff Judge
Managing partner at Chesapeake Financial Planners
Any accounts that allow you to name a beneficiary (e.g., retirement accounts, health savings accounts, life insurance, annuities) generally go directly to those beneficiaries, bypassing probate, the judge said.
For houses, you can give the house more than one name; It’s a move that can help joint buyers, but could mean sharing ownership if you’re single. But in some states, he said, you can add a legal document to the deed that allows the home to pass directly to the heir and avoid probate.
Or, depending on your situation, trust may make sense. Some people place their homes and other assets that may be subject to probate into a revocable living trust. This allows you to manage your assets while you are alive and then transfer them directly to the intended beneficiary without going through probate.
In either case, it may not be wise to try to leave your home to more than one heir.
“I strongly recommend not turning the house over to more than one person,” said Alex Caswell, CFP, founder of Wealth Script Advisors in San Francisco. “This is a difficult asset to divide, and if there is disagreement about how it should be handled, it can create chaos.”
You can also state in your will that you want the house to be sold and the proceeds to be given to the heir or heirs, Caswell said.
Things to consider long before death
Some parts of the estate plan deal with non-death-related matters but still help protect your home. For example, you should grant power of attorney to someone you trust to manage your finances in the event that an accident or illness incapacitates you at any point.
This person can access your bank account and pay your bills, including your mortgage.
“They won’t have access unless you have a legal document stating they have access,” said Eric Roberge, CFP, founder of Beyond Your Hammock in Boston.
He said it’s also smart to give someone power of attorney for healthcare so they can make medical decisions on your behalf if you’re unable to do so.
It’s also worth getting long-term disability insurance to protect your income, Roberge said. Typically, these policies provide a percentage of your income in the event you are unable to work for an extended period of time due to injury or illness.
“This is the least recognized but extremely important insurance for a working age person,” he said. “If you can’t work… it’s important to have insurance in place to pay your bills, especially if you own a home.”
