National Estate Planning Awareness Week, October 21-27, 2013
In 2008, the National Association of Estate Planners and Councils (NAEPC) worked with Congress to pass a resolution proclaiming the third week in October as National Estate Planning Awareness Week. The resolution noted that “Many Americans are unaware that lack of estate planning and financial illiteracy may cause their assets to be disposed of to unintended parties by default through the complex process of probate.”
Bratton Law’s goal is to alert and educate the public to establish and keep their estate plans up to date.
- More than 120 million Americans do not have proper estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death. This costs many families wasted dollars and unnecessary hardship that can be minimized with proper planning.
- Estate planning is not just for the wealthy and is important for everyone. With advance planning, issues such as guardianship of children, managing bill paying and assets in the event of sickness or disability, care of a special needs child, long-term care needs, and distribution of retirement assets can all be handled with sensitivity, care, and at a reasonable cost.
“Estate planning is a thoughtful process and not merely a single legal transaction,” said estate planning attorney, Charles Bratton. “Establishing an estate plan is one of the most important steps you can take to protect yourself and your loved ones.”
There are three main purposes for a having a will and each and every person, age 18 or older, needs his or her own will. No exceptions.
- Appoint Guardians for Minor Children.
- Appoint a Personal Representative (i.e. Executor)
- Distribute Assets to selected beneficiaries in the most appropriate manner
Regardless of the extent of your net worth, estate planning is for everyone. Yes, complex strategies may be used by wealthy people to reduce death taxes and costs. But others may only require a simple will and/or trust to pass on property and provide for minor children.
The time to address or update your estate plan is now. Contact our Haddonfield office to schedule a consultation with Charles Bratton. 856-857-6007.