National Estate Planning Awareness Week

July 5, 2024, 8:17 am

While taking care of one's family is a major focus of National Estate Planning Awareness Week, aviators are reminded to also keep their aviation family in their long-term vision. But, estate planning is much more than about estate tax avoidance and protection, it also dictates how your assets will be managed and distributed in the event that you become ill, disabled or pass away. Calvary Hospital is an industry leader in developing holistic solutions for end-of-life care. Many in attendance had a baffled look. Madison-based Wilson Law Group attorney Daniel B. Purtell noted that estate planning is one of the most commonly overlooked areas of personal financial management. The purpose of estate planning is to develop a strategy that will maintain the financial security of individuals through their lifetime and ensure the intended transfer of their property and assets at death, while taking into consideration the unique circumstances of the family and the potential costs of different methods. Some of the benefits of estate planning include being able to protect the friends, family, and pets you love. Estate planning is evolving to be about later in life planning.

Estate Planning Awareness Week 2022

36 to their heirs and IRS won't collect estate tax on it. "That trend is troubling given how much is at stake for individuals and families, and that includes all families, not just those with significant wealth or means. It makes sense – it's never comfortable to confront these types of scenarios – but that shouldn't stop us from dealing with the issue head-on. A medical power of attorney enables you to designate a person you trust to make medical decisions for you when you are otherwise unable to speak for yourself. Has there been a divorce? Then they heard from a university planned giving representative who happened to be in attendance. It's a more integrated approach to estate planning. National Estate Planning Awareness Week was established in 2008 to create public awareness of the necessity of estate planning. To understand that in full you could go all the way back to the Stamp Act of 1797, where a tax was passed to fund the Navy in an " undeclared war with France. " A car that's paid for? Estate planning is important for everyone over the age of 18. In U. S. history, estate planning has been intricately linked with estate taxes because estate planning techniques are tools to reduce or even eliminate the Federal estate tax. Advance Healthcare Directives allow you to express your values and desires related to end-of-life care.

Make sure that you have an advanced directive, also called a living will, which memorializes your wishes concerning your end of life care, such as whether you would like to receive life support if you are in a vegative state or terminal condition. Here's a more positive way to look at what can be a touchy subject: estate planning is how you prepare to take care. A few simple steps today will give you peace of mind tomorrow by ensuring you and your loved ones are well protected. National Estate Planning Awareness Week Activities. The result was the passage of HR 1499, declaring the third full week in October National Estate Planning Awareness Week. Is your estate taxable?

Estate Planning News 2019

You ready yourself with an experienced team of professionals who can advise you on a variety of topics relevant to your personal circumstances. National Estate Planning Awareness Week: 3 Reasons to Celebrate. Have you purchased any asset that needs to be transferred to your trust? Myth #5: I can get my estate planning done tomorrow (later). The Community Foundation of Northeast Iowa encourages individuals to work with a professional advisor to create their own estate plan. As I often say, "Estate Planning is not something you can afford to put off until tomorrow. " If you would like to schedule a free meeting with an attorney in our office, attend one of our free upcoming informational seminars.

Learn more about ways to give at The Community Foundation of Northeast Iowa works with individuals, families and businesses to create charitable solutions that match their passions, maximize tax benefits and create a philanthropic legacy for generations to come. "This amazing gift from a special person allows our new legacy society members to make an immediate impact by documenting their future legacy gift, " Tennyson added. Based in the Litchfield office, he may be reached at. It is the time of year when we highlight the importance of estate planning during National Estate Planning Awareness Week (October 17, 2022-October 21, 2022)! "We made our wills when we had children 30 years ago and see no need for further planning. Estate planning is always complicated. The representative shared his organization's plans for National Estate Planning Awareness Week, which include a full day of activities. Estate planning is often a difficult topic to broach, as it brings the unpleasant topics of aging and death to the forefront of our minds. It is our hope our councils will host education events, call-in phone banks, and seminars each and every October to help spread the word: YOU need estate planning TOO! Believe it or not, National Estate Planning Awareness Week is a very real thing and we're celebrating October 21-27! We're challenging our community to think about their futures during National Estate Planning Awareness Week, and to take control of your health and safety decisions. Here's how you can join them.

National Estate Planning Awareness Week 2021

By studying the importance of estate planning and becoming familiar with various wealth preservation strategies, you can plan more effectively. Planning a Community Outreach Event. This campaign is an effort to highlight the ways that an estate plan can be essential to your financial wellbeing. Procrastination and the belief that it's not necessary because of the amount of assets they owned were among the top reasons for why individuals have not gotten any estate planning done. Protecting our working farms and forests takes a long-term commitment and vision. 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. Give a copy of the appropriate planning documents to those who will serve as your personal representative, patient advocate and financial power of attorney. Your continuous engagement with HHF not only enables this critical work, but it also helps us plan for a future that improves the quality of life for the 48 million Americans affected by hearing loss. If you are planning to speak to your parents about the need for an estate plan, it is important to try to include any siblings in the discussion to avoid giving the impression that you are trying to influence or control your parents' choices. Collaborative planning is a comprehensive approach to estate planning where the individual essentially builds a personalized team to help manage the process. The documents should also be reviewed frequently and updated as necessary.

Things change, including family members, your relationships with people, and also the laws and planning strategies. Despite this uptick, just 33% of American adults have a will. To honor these individuals, Calvary established The Society of 1899 to commemorate them. This is a good time to think about how you will utilize those before the exemption amounts decrease as expected in 2026. It's a great tool for organizing all the important information you and your estate planner need to know when creating your custom estate plan. CHS is proud to offer a free PETtalk webinar, "Can You Trust Your Pet? " Determine Who Will Have Power of Attorney over Your Finances.

National Estate Planning Awareness Week

Many of the respondents said this was due to procrastination, but many others mistakenly believed that it was not necessary because they did not have many assets. A member of HMB's Private Client, Trusts & Estates Group can help you determine if your estate plan accomplishes your goals. Comprehensive information resource. Please do not hesitate to reach out to our Trusts and Estates Practice Group at Brouse. Someone needs to be able to step in and a properly drafted Living Trust plan can ensure that the person(s) of your choosing are properly put into place to take over and make decisions when and if that happens. You also don't have to wait. We rely on the generosity of donors to continue our cause.

Sunday, October 17, 2021. Do you have a young family? Myth #2: A Will is sufficient. 18 million to heirs and pay no federal estate or gift tax. Planning for Unmarried Couples.