Congress has designated the third week in October as National Estate Planning Awareness Week (October 15th-21st).
What is Estate Planning?
Estate planning is one of the most looked past areas of personal financial management. It is estimated that 70% of American’s do not have an estate plan. While many mistakenly believe that this process is for the wealthy or the retired. Estate Planning is for everyone!
Estate planning is an important process that can help protect you, your family, and your assets. Proper estate planning saves you and your loved ones money. Estate planning helps pass your assets in the way you desire. Not only financially directives also provides direction during incapacitation, and determines care for your children. Further more is provides peace of mind.
Don’t have enough for Estate Planning
Believe it or not, you have an estate. In fact, nearly everyone does. Your estate is comprised of everything you own— your car, home, other real estate, checking and savings accounts, investments, life insurance, furniture, personal possessions. No matter how large or how modest, everyone has an estate and something in common—you can’t take it with you when you die.
National Estate Planning Awareness Week is the perfect time to make sure your affairs are finally in order in the event of sickness, an accident, or untimely death. Contact your estate planning professional to begin your estate plan today. If you already have a plan, it’s a good time to review your plan to make needed adjustments to beneficiary designations or modify retirement accounts and insurance policies. Call us today 501-221-7776 or visit us at ILPArkansas.com.