As estate planning attorneys, we are well aware of the need to do estate planning. Because we are so immersed in our practice area, it can be easy to forget how many Americans remain in the dark on the issues we help people with every day.
Back in 2008, Congress took a look at the following statistics:
- It is estimated that more than 120 million Americans lack an up-to-date estate plan
- Two-thirds of Americans over age 65 believe they lack the necessary knowledge to plan adequately for retirement
- Nearly one-half of all Americans are unfamiliar with basic retirement tools, such as a 410(k) plan
The result was the passage of HR 1499, declaring the third full week in October National Estate Planning Awareness Week.
One benefit of having a week dedicated to estate planning awareness is that it reminds us of something we tend to forget. Things we see as routine daily matters are actually overwhelming foreign concepts to many of the people around us. We have daily opportunities to educate our clients and improve their lives and those of their families.
What are you doing– this week and year-round — to make your clients and others in your community aware?
We as estate planning attorneys do a wonderful service for our communities. So, be proud and celebrate National Estate Planning Awareness Week!!!
Stephen C. Hartnett, J.D., LL.M. (Tax)
Associate Director of Education
American Academy of Estate Planning Attorneys, Inc.
9444 Balboa Avenue, Suite 300
San Diego, California 92123
Phone: (800) 846-1555
- Biden Administration Could Reduce Estate Tax Exclusion - January 12, 2021
- Starting the New Year Right - January 5, 2021
- Tax Planning for 2021 - December 29, 2020