In September of 2008, Congressional leaders passed House Resolution 1499 declaring the third week in October as “National Estate Planning Awareness Week.” Resolution 1499 estimated over 120,000,000 Americans did not have up-to-date estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death.
More recently a 2019 survey, carried out by Caring.com, found 57% of adults in the United States have not prepared any estate planning documents such as a will or trust, despite the fact that 76% of the surveyed adults viewed them as important. Many said this was due to procrastination, but others mistakenly believed that it was not necessary because they did not have many assets. Either way, Estate Planning Awareness Week provides an opportunity to think of where your current plan is at, if you have one, and how making or updating your plan could benefit you or more accurately reflect your wishes.
An estate plan can provide significant peace of mind by ensuring your assets are protected, plans are in place in the event you become ill, and your property is passed down according to your wishes.
Consult an estate planning attorney. Resolution 1499 recognized “the implementation of an estate plan starts with sound education and planning,” and then drafting of legal documents. Our office couldn’t agree more, and we encourage you to educate yourself about estate planning. We can help you and your family members create an estate plan tailored to meet your unique needs and carry out your wishes—or help you update a pre-existing estate plan. We can provide family members with guidance and information about the options available to them. And, we can help you put a plan in place that will prevent unnecessary stress, legal expenses and taxes, uneven inheritances, disputes between family members, and delays in passing life savings on to loved ones. In addition, it will provide you and your family members with the peace of mind that comes with knowing there are plans in place for your care if any of you become ill and that your wishes will be honored once you pass away.
For information about estate planning and how it can benefit you, please contact our office, (248) 409-0256. We offer a free initial consultation to learn more about our process.