"Joining the legacy society allows our members to ensure their families are financially safe and to give back to a passion that has given us all so much, " said Elizabeth Tennyson, senior vice president of the AOPA Foundation. A durable power of attorney can prevent courts from making decisions regarding your finances. Time is running out to take advantage of the increase in gift tax exemption provided by the Tax Cut and Jobs Act. In addition, someone appointed by the court, instead of a trusted person of your choosing, will be in charge of caring for any children or pets. Now is a great time to start thinking about the legacy you are leaving behind for your spouse and your children. Adopted in 2008 by U. S. House of Representatives, National Estate Planning Awareness Week was established to assist Americans in preserving their assets built over their lifetime for the benefit of family, heirs and charities.
Estate Planning Awareness Week 2021
The firm's estate planning practice has developed into one of the strongest in the metropolitan area of Atlanta, with an average estate client net worth in excess of seven million dollars. A New Trend in Estate Planning. National Estate Planning Awareness Week, or NEPAW, is an awareness week founded by the National Association of Estate Planners & Councils in 2008. Here's a more positive way to look at what can be a touchy subject: estate planning is how you prepare to take care. Do you have a last will and testament and/or a trust? National Estate Planning Awareness Week, Oct. 17-23 this year, was adopted by the U. S. House of Representatives in 2008 as a way to highlight the importance of estate planning for individuals, families, and business owners. A resource for charitable gift planners. Do you have a highly appreciated asset with a low-cost basis that you would like to sell? If you have video testimonials or written statements from donors about the ease and flexibility of the process, put them front and center. I wrote my will a couple of years ago so I'm set. Time Warp: A Brief History of Estate Planning.
Then came the American Taxpayer Relief Act of 2012 which kept the $5 million inflation-adjusted exclusion figure, but increased the maximum rate of the tax to 40 percent from 35 percent. In general, it's in the best interest of society when the transfer of wealth and property is as seamless and as close to the decedent's intent as possible. According to the National Association of Estate Planners and Councils website, National Estate Planning Awareness Week was adopted in 2008 to help the public understand what estate planning is and why it is such a vital component of financial wellness. Two-thirds of Americans over age 65 believe they lack the necessary knowledge to plan adequately for retirement. Collaborative planning is a comprehensive approach to estate planning where the individual essentially builds a personalized team to help manage the process. "Estate planning is only for the ultra-wealthy.
The documents should also be reviewed frequently and updated as necessary. Here are common misconceptions around estate planning: - "I'm too young! Attorney Wayne W. Wilson is available for quotes, articles, and interviews. In your living will, you can specify whether you want to receive life support if warranted, and how long you want to be on life support. Trusts and Estates Alert: National Estate Planning Awareness Week. NAEPC is pleased to offer its estate planning councils an "Estate Planning Day in a Box" kit to help councils get started planning a community outreach event. Stephen C. Hartnett, J. D., LL. As always, be sure to seek the help of a local attorney, accountant or financial planner when developing your estate plan. It could be expensive, time-consuming and traumatic for your loved ones. If you have further questions about NEPAW, or if you want to learn more about how you can support the Henry County Community Foundation in your will, feel free to reach out. A list of legal, financial, and medical professionals who have performed services for you is also important.
Estate Planning Awareness Week 2022
It removes some of the burden associated with impossible medical situations and can relieve your loved ones from a sense of responsibility for what happens to you. Resources for Wealth Management, Trust and Estate Professionals, and Law Students. Social proof can inspire others to feel that they can do it, too. Under English law, the Statute of Wills was established in the 16th century which allowed a landowner to pass along their land as they wished, whether that was to the eldest or not. Take advantage of this time to care for your family and property, reduce your taxes, and support a charitable cause you care about, like Scottsdale Arts! For example, individuals can direct a planned gift to the nonprofit organizations that best align with their charitable interests. Donors can also add impact to their gift during the AOPA Foundation Legacy Challenge, which was fueled by a $1 million pledge from an anonymous donor to allow participants to have a greater impact on the programs that the foundation funds. National Estate Planning Awareness Week was established in 2008 to create public awareness of the necessity of estate planning. Planned Giving WikiLearn and prosper!
Download our "Quick Start" kit*, an informational packet developed for estate planning councils affiliated with NAEPC that provides the most basic information about National Estate Planning Awareness Week. 18 million per individual. Despite this uptick, just 33% of American adults have a will. American Academy of Estate Planning Attorneys, Inc. 9444 Balboa Avenue, Suite 300. Get out ahead of the week itself. The congressional 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. Prepare to take care of your assets to ensure you take care of your loved ones in the event the unexpected happens. You can also rest easy at night, knowing that whatever the future holds, your loved ones will be cared for.
The Planned Giving Authority. "For some people, estate planning can be wrought with emotional minefields. This month marks the start of our fiscal year and the new research cycle for our research programs, Emerging Research Grants and the Hearing Restoration Project. "The key to removing some of the anxiety surrounding estate planning is education and awareness. As estate planning attorneys, we are well aware of the need to do estate planning. It's a great reminder to organize, review and update your plans. According to a study by the National Association of Estate Planners and Councils, 56 percent of American adults do not have an up-to-date estate plan, which could leave their financial future, and that of their families, in doubt. These critical and necessary documents should all be completed in writing, and the contents should be shared with the person, or persons, named. For Californians, this can become not only a lengthy process, but an expensive one. So what do I need to do in order to have an Estate Plan?
Estate Planning Awareness Month
Many of our prospects just need a little nudge. Announce Estate Planning and Awareness Week early with your email and social media content. Have your family circumstances changed? It can be helpful to make these decisions in advance so your loved ones don't have to make them for you when you are incapacitated. Life Insurance Policies and Estate Planning. Do you need to transition your business to the next generation? Donors will welcome your concern for their legacies and value the educational content and encouragement you provide.
List Scottsdale Arts as your beneficiary designation in your life insurance plan. Since 2003, Calvary has hosted an annual trust and estates conference. You may also wish to view our brochure, A Consumer's Guide to Collaborative Estate Planning. Use hashtags like #estateplanningawarenessweek, #estateplanning and #beprepared to help bring eyes to your posts. Arts-lovers who include Scottsdale Arts in their will or trust join the Legacy Society immediately, building a community of like-minded friends who have committed to ensuring a long future for the arts in Scottsdale. Finish Your Living Will. If you are careful to get your estate in order and get legal help to do so as needed, you may be able to relieve a significant portion of the estate tax burden for your surviving beneficiaries. We as estate planning attorneys do a wonderful service for our communities. This week of awareness emphasizes the importance of thinking strategically about planning your estate. If you choose to create a gift, FreeWill will creates the necessary language to support AOPA. The estate tax, more or less as we think of it today, was instituted in association with World War I in 1916.
It can also include a Living Will, or other documents that spell out your wishes concerning life-support or other end of life care. What happens when you are no longer able to make decisions for yourself? Our tax attorneys concentrate in sophisticated estate planning techniques and work closely with each of our clients to effectively accomplish their individual goals. Counter with language like: - Do you have children? Myth #5: I can get my estate planning done tomorrow (later). On a separate paper, make a list of your liabilities.
National Estate Planning Awareness Week 2023 Schedule
Taking time to plan your estate may seem like a daunting task, until you realize all the good that comes from having an estate plan. The good news is, you're not alone in your planning efforts. You can accomplish this through giving a planned gift, also called a legacy gift, as part of your estate planning process. As I often say, "Estate Planning is not something you can afford to put off until tomorrow. " If you seek advice and guidance with regard to your estate planning needs, please view our website and search for an Accredited Estate Planner® (AEP®) or Estate Planning Law Specialist (EPLS) designation holder in your area. ", follows: Other videos: - Asset Protection Planning for the Masses.
Share Quick-Hitting Stats. The You Can Fly program and the Air Safety Institute are funded by charitable donations to the AOPA Foundation, a 501(c)(3) organization. Remember that donors want to follow the crowd. These individuals will need to act, possibly quickly, in the event of your death or serious injury.
RSVP today to join, and bring any questions you have so we can talk through them together. ABOUT MADISON ESTATE COUNCIL: a member of the NAEPC, the Madison Estate Council is a professional collaborative of local attorneys, financial advisors, certified public accountants and trust officers. If not, that's okay. Have you had a chance to review your plan lately? Here are a few tips to help you start the conversation.
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