October 18-22 is National Estate Planning Awareness Week

October 12, 2021 – Stillwater, Minnesota: National Estate Planning Awareness week was established in 2008 to bring awareness to the importance of estate planning and why it is important to financial wellness. According to the National Association of Estate Planners & Councils, nearly 56% of Americans do not have an updated Estate Plan. Reasons vary, but the majority of concerns revolve around time constraints and misconceptions in relation to planning.

Next week, we will be sharing daily educational tools, clearing up misconceptions, and how our attorneys can help you and your family start planning or update an existing plan today.

So, why you should have an Estate Plan?

Estate Planning is the process of putting the proper documents in place to ensure your wishes are carried out in the event of incapacity and upon death. Without the proper estate planning documents in place, the law of the state of your residence will dictate what happens upon your incapacitation and death.

Part of good planning may involve considering how you wish to be remembered. For many it is determining the transfer of assets from one generation to another with as little family conflict as possible. For others, leaving a legacy by providing for a charitable organization, foundation, or cause which they have come to believe in and support is important.Whichever means a person wishes to leave their assets,by taking steps now, you can specify exactly how your assets should be distributed, and thus minimize any conflict among surviving family members.

Having a good plan in place may avoid the costs, publicity and delays of a formal probate. An estate plan employs many strategies, from very simple to very complex, which allow one to protect, preserve and manage their estate.Estate planning is not only for the elderly or the wealthy; rather, it is wise for everyone to begin the estate planning process as early as possible, because the unexpected can happen at any moment and planning early can save time, headaches and money down the road.


Questions About This Topic?

Contact us today if you have questions about this topic or if we can assist you with your Estate Planning needs. Fill out the form below, or call our Stillwater, MN office at 651-439-2878 or Hudson, WI office at 715-386-3733.

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