It’s estimated that more than 120 million Americans do not have updated estate plans, according to www.AmericanBar.org.
Unlike the fun, daily holidays, such as national pasta day, that we like to celebrate with delicious dinners and social media hashtags, the National Association of Estate Planners & Councils (NAEPC) created a congressional proclamation for it in 2008, and have since been dedicated to upholding National Estate Planning Awareness Week every third week in October.
What Are We Really Talking About?
Everything. When we start a conversation about estate planning, whether it be in-person, on the phone, or even online, we are talking about financial security and planning, protecting your loved ones, and generally being prepared for the life ahead of you, even though no one really knows what all that will entail.
Who Should Participate in National Estate Planning Awareness Week?
Everyone.
Maybe you created an estate plan 10 years ago. Congratulations on being ahead of more than half of all Americans who do not have a plan at all! But, is your plan up to date? Are your beneficiaries, heirs, powers of attorney paperwork, bank accounts, address, assets, and other necessities and people in your every-day life reflected in that 10-year-old estate plan? If not, that’s almost as bad as not having a plan at all. If you listed your brother as your only personal representative and he passed away last year, you do not currently have a personal representative. If you moved and your new home was not added to your your Trust, then your home will be probated upon your demise.
Maybe you don’t have an estate plan at all. You’re young, healthy, and starting a fresh course as a spouse, parent, or co-partner at a new organization. Maybe you’re a member of the sandwich generation and taking care of an elderly parent or relative. Wherever you fit in, you’re busy and dying really isn’t on your mind, agenda, or even in your plans. Unfortunately, dying happens to the best of us, and you likely have assets or people you care for. An estate plan, whether it includes only a few assets or couple thousand dollars, is still a necessity for everyone, including you – the caregiver, the student, the professional, the parent, grandparent, or the business partner.
Cheers to that! How Do I Celebrate?
Think: About yourself, your family, your pets, your debts, your home, car, and most prized possessions. Think about your health (currently and in the future), any special accommodations you may need or want, and who has your best interest in mind in these vulnerable moments of illness, surgery, or poor general health.
Talk: to your loved ones, doctors, financial planners, and a trusted attorney. Talk about all of the things above, explore them to the fullest and, with your trusted expert or loved one, decide how to handle things.
Make a call: to a trusted estate planning attorney to learn more about your individual estate planning options and needs, and create a plan. If you really want to be timely, you could do it sometime before October 23 and share it on social using #NationalEPAwarenessmonth.
Get the Idea?
National Estate Planning Awareness month is really what it sounds like – spreading awareness about estate planning and all it offers you and your loved ones. Not only is it a time to think about your plan (or create one!), it’s also the time to inspire others to do the same. Dying is not convenient and sometimes not even expected, and can leave families in ruins after losing a loved one, a pillar of emotional strength, and/or a breadwinner.
So set the trend, share the news, and celebrate the opportunity to help others help themselves.
Don’t know where to start?
With a free consultation, of course. Email Info@TheProbatePro.com or call 248.399.3300.
