National Estate Planning Awareness Week is October 19 - 25. The U.S. House of Representatives in 2008 designated the third week of October as a time for individuals and families to think about whether they have the proper plans in place to protect themselves, their assets and their families, and to take the appropriate action if they do not. The research shows that most Americans do need to take action: an estimated 59% of us lack estate plans or up-to-date estate plans.
Good planning will help you to:
- Preserve the assets it has taken you a lifetime to build.
- Minimize the stress - financial, legal and psychological - to your loved ones in the event you become sick or pass away.
- Ensure that the assets you leave behind go to the people you want to get them.
- Minimize your heirs' tax burden. Avoid becoming the subject of court-ordered guardianship.
You can read the text of House Resolution 1499 establishing National Estate Planning Awareness week here.
If you've been putting off your estate planning, this is a good week to move ahead! Read more about the steps you can take to protect yourself, your family and your assets at The Karp Law Firm website.