In 2008, Congress recognized the need for the public to understand the benefits of estate planning by designating the third week of October as National Estate Planning Awareness Week. That’s this week!
Estate planning is one of the most overlooked areas of personal financial planning and management. Even though 76% of adults know estate planning is important, a 2019 survey carried out by Caring.com shows that 57% of Americans have no estate documents prepared. Some of the respondents ascribed this to procrastination, but many others mistakenly believed that this process is for the wealthy or the retired. Estate Planning is for everyone!
Estate planning is an important process that can help protect you, your family, and your assets. Proper planning saves you and your loved ones time and money, passes your assets in the way you want, provides clear direction during any period of mental incapacity, determines care for your minor children. Ultimately, it bestows some peace of mind.
This week is the perfect time to make sure your affairs are in order in the event of sickness, an accident, or death. Contact me for a free initial consultation. If you already have a plan, it’s a good time to review your plan to make needed adjustments to beneficiary designations or modify retirement accounts and insurance policies.