In 2008, Congress passed H. Res. 1499 which designated the third week in October as a week for assisting the public in understanding the importance and benefits of estate planning.
“Estate Planning” sounds very formal. I have friends and clients who assumed they didn’t need “Estate Planning” because they didn’t feel like they had an “Estate.” But estate planning is really just making a plan for all the things you own – your car, your home, your checking and savings accounts – no matter how modest or massive, in the event you die.
Estate Planning is for everyone!
Many people think estate planning is only for older and retired folks, but the reality is that younger people, especially families with young children, need to plan as well. No one can predict the future and planning is always a good idea.
The state will decide where your belongings will go.
You might not like how the law dictates who gets your money and belongings.
Maybe your young adult child will inherit money and you are worried he will blow it immediately.
A child might deserve a larger share because she has faced more hardship.
A minor child should not receive an inheritance because she will need a guardian appointed.
There are many situations where a person does *not* want the state to determine where their money goes after they die. An estate plan can avoid this!
Estate planning doesn’t have to be expensive.
Planning is accessible and available for everyone.
The best time is now! Don’t wait. You can put something in place now and change it later…which is exactly the way estate planning should be done.
If you have questions, call my office at 918-836-6461.
Enjoy your National Estate Planning Week!