You may have heard me say more than once that an estimated 56 percent of Americans do not have an estate plan in place, making estate planning “a critically overlooked component of financial wellness.” In hopes of raising awareness, Estate Planning Awareness Week was created to educate the public about the importance of estate planning and the MANY benefits. This year, it falls on October 19-25, 2020, and with the pandemic it is more important than ever.
Start Planning Now. Save Later.
So many folks put off contacting me until there is an emergency or death of a loved one. Too often they come with critical, time sensitive issues that could have been resolved with a simple appointment and a modest investment. Now they face stressful, upsetting circumstances and the cost is not only mental and emotional, but an economic toll that probably could have been avoided or lessened.
In fact, putting off planning for your legacy is one of the biggest issues most people face financially. Be fully prepared and alleviate stress by having a will, trust, power of attorney, and real estate deeds in place sooner rather than later.
Estate Planning is a Journey, Not a Destination
But don’t stop there. Of those who have created a will, 71.6 percent have not updated it properly throughout their lives, like after a birth, marriage, divorce or other important event. Stay in touch with your estate planner every 3-5 years or after a major life event. There’s no better time to get started than during National Estate Planning Awareness Week so call and ask me how we can get started.
Editor’s Note: Updated 9-2020. We were thrilled to featured in My News Mesa.Com in 2017 to spread the word about NEPAW. This is an updated excerpt. See the full original article by clicking HERE.