New Willful report finds financial advisors' most overwhelmed clients are also the least likely to have a will in place
Canada's sandwich generation are completing more financial tasks than any other group while falling further behind on the planning that matters most, according to Willful's third annual The Great Delay 2026 report, released November 2, 2026.
Sandwich generation Canadians - defined as those with at least one living parent and a child of any age, representing approximately 24% of the Canadian population - outpaced the national average on financial task completion this year. Approximately 81% completed at least one financial to-do in 2026, compared to 77% of Canadians overall. Yet 63% also delayed at least one major financial milestone, versus 55% nationally.
The gap between effort and outcomes is striking. Despite being more likely than the general population to carry a mortgage (48% vs. 35%) and hold an RESP (40% vs. 16%), approximately 65% of sandwich generation Canadians don't have a will - higher than the 58% of Canadians overall who remain without one. That national figure has been largely unchanged for three years.
"As a mom of two and a daughter, I'm part of the sandwich generation, and I know how quickly the pressures stack up," said Erin Bury, co-founder and CEO of Willful. "The data shows this group is working harder on their finances than anyone, protecting their kids and their income, and still putting their own plan last. You can't control gas prices or the economy. You can control whether your will is done. It's the one to-do on the list that protects everyone else on it."
The cost-of-living squeeze
The economic backdrop helps explain the squeeze. Nearly all (97%) Canadians surveyed said their grocery costs rose over the past 12 months, by an average of 21%, while approximately 84% reported higher gas costs, up an average of 24%. Utility bills rose an average of 15%, travel expenses 21%, and debt repayment costs 18%.
For sandwich generation clients, those figures are compounded. They are more than twice as likely as Canadians overall to report rising childcare costs (28% vs. 12%) and more likely to cite increasing costs of caring for aging parents (27% vs. 16%). Approximately 49% reported higher debt repayment costs (vs. 44% nationally), and 32% said life insurance premiums had climbed (vs. 25%).
Overall, two in five (40%) Canadians said they were in a worse financial position than a year ago, up from 37% in 2025. Nearly half (47%) dipped into savings to cover everyday expenses - a figure that has held near that level for three consecutive years. Approximately 82% of respondents said they would need additional monthly income to reach their financial goals, with the average shortfall sitting at $818 per month.
That financial strain is reshaping how Canadians think about reaching their goals. Beyond hoping for a drop in everyday costs or easing inflation (cited by 64%), approximately 37% said receiving a cash gift or prize would most likely help them achieve their financial goals, and 27% pointed to an inheritance. For advisors working on retirement and estate planning conversations with Canadian clients, those expectations carry implications, particularly given the generational wealth transfer already underway.
A will gap hiding in plain sight
The report's sharpest finding for advisors may be the persistent gap between financial exposure and estate planning readiness.
Millennials are the most financially exposed but least prepared generation: 83% don't have a will, yet 34% have a child under 18 and 45% hold a mortgage. Overall, 70% of Millennials delayed at least one major financial milestone in 2026. Among Gen Z, financial anxiety is compounding rapidly - 36% cited the difficult job market as a barrier to their financial goals, more than double the national rate of 17%.
The consequences of unpreparedness are well understood by survey respondents, even if action hasn't followed. Approximately 63% of Canadians said a parent or family member dying without a will would cause stress in the family - a figure that rises to 74% among the sandwich generation. About 51% said it would make financial and legal tasks difficult to manage, rising to 59% among sandwich generation Canadians.
Advisors discussing wealth transfer readiness with clients may find the emotional stakes in those numbers a useful entry point to the conversation.
Meanwhile, the small cohort of Canadians who did act is growing. Will completions on Willful's platform rose approximately 10.1% in the first nine months of 2026 compared to the same period in 2025. Gen Z completions grew the fastest of any generation, up approximately 71.2%, while Millennials completed the most wills in total, accounting for approximately 44% of all completions.
The report's third annual edition also found that approximately 63% of Canadians are not fully prepared for a financial emergency — meaning they have not both discussed a plan with family and put the necessary documents in place. That figure has risen from 60% in 2025 and only 28% have completed both steps.
For advisors, the estate planning conversation may be one of the most underutilised touchpoints in a client relationship. As Wealth Professional has reported, advisors are increasingly seen as the first point of contact for estate planning, a role that carries both opportunity and responsibility. The Great Delay 2026 suggests that for the sandwich generation in particular, the gap between financial complexity and planning readiness has never been wider.
The report, surveyed 1,501 Canadian adults through Angus Reid between September 1 and 10, 2026. The full report is available at https://willful.co/blog/great-delay-2026.
