📜 National Estate Planning Awareness Week 🏦
Did you know that more than half of Americans, a staggering 56%, do not have a current estate plan? Estate planning is often an overlooked but critical aspect of financial wellness. The repercussions of not having a plan in place can lead to financial and emotional hardship that could be significantly mitigated with advanced planning.
Even if you already have an estate plan, it's highly recommended to review it at least every five years to ensure it remains up to date. The cornerstone of estate planning is creating a will, yet there are common misconceptions that prevent many from taking this essential step. Here are four compelling reasons why everyone, regardless of their financial status, should have a will:
Do you have children? You’ll need a will to ensure your children are cared for by the people you trust as well as pass on assets to your heirs as you would want.
Do you have assets? If you have a savings plan through an employer, a car that’s paid for, a checking or savings account, or items that hold meaning, you have assets. Having a will ensures these assets go to the people or causes you choose.
Do you know who would make decisions for them in the case of a health emergency? They can put this in writing before the situation arises. Part of estate planning is naming a durable power of attorney for health care to oversee medical care and make decisions if they are unable to do so.
Do they have causes they care deeply about? A gift left in your will allows you to continue making a difference even when they’re gone.
Creating a will is NOT hard. 15% of Americans say they don’t have a will because they don’t know how to create one.
Creating a will is NOT expensive. Anticipating high legal fees, 14% of Americans say they don’t have a will because it costs too much.
While some people hire an attorney to assist with the will-creation process, there are low- and no-cost options available.
Please download our FREE Estate Planning Tool Kit to help you get started, TODAY. https://lnkd.in/e3GkJi9Y