A recent study shows that only about 33% of Americans have estate plans in place. This means that roughly 67% of adults do not have a set plan for the future.
Estate Planning Awareness Week is a week-long movement that takes place every year in October to help others understand the importance of estate planning.
During Estate Planning Awareness Week, those involved in the area of estate planning, including attorneys, have the opportunity to raise awareness and encourage individuals to get moving on creating their estate plans.
Many people aren’t aware of the importance of having an estate plan and don’t know where to start in creating one. Estate Planning Awareness Week aims to change that, one person at a time.
In celebration of Estate Planning Awareness Week, OC Wills & Trust Attorneys is hosting “Cocktails & Trusts: An Estate Planning Affair” at our Irvine office. Join us for an evening of cocktails and conversations centered around securing your family’s legacy!
Estate Planning Importance
There are numerous reasons to have a comprehensive estate plan. Estate planning protects your legacy and ensures your loved ones are taken care of.
Creating an estate plan not only gives you peace of mind, but it can also help give your loved ones the same, too. Dealing with the death of a loved one is never easy, but when you plan for the future, it can eliminate the stress and frustration they may otherwise encounter at your passing.
Many take the approach of letting the state handle their estate after passing, but this strategy can have many drawbacks. For example, intestacy laws come into play, and they may not provide for your heirs the way you would want.
All in all, having a strong plan for the future is important for every adult, regardless of age. Your estate plan can have a strong impact on your future and those of your loved ones.
Ways to Encourage Your Loved Ones to Create an Estate Plan
Encouraging your loved ones to create an estate plan and giving them a gentle push in the right direction may be all that’s needed to get them on track. The following are just some of the ways you can help motivate a loved one and inspire the need for an estate plan.
Be Sensitive and Understanding
Talking about the future and death isn’t easy for many. It’s helpful to keep that in mind and be sensitive to the way your loved ones may be feeling about the whole situation.
It’s best to tailor your approach based on their thoughts and feelings about estate planning and planning for the future in general.
Focus on Family
Placing family at the center of your conversation, especially for a family-oriented person, can be a great approach.
Not only is an estate plan created for their benefit, but also for the benefit of their family and beneficiaries. An estate plan can take a lot off their loved ones’ plates at their passing and help bring the family together, rather than let the potential emotions and pressure tear them apart.
Family is often one of the primary motivators for getting an estate plan.
Involve Others in the Conversation
If necessary, bring others into your conversation to help urge your loved one to leap into estate planning. An encouraging word from a parent, spouse, child, or grandchild could be enough to prompt your loved one to agree.
Explain That Estate Planning Isn’t Just About End-of-Life Planning
Estate planning is about so much more than just making plans for passing. It also means planning for disability or incapacity, making medical decisions, and having backup plans for the future.
Take a Positive Approach
Contrary to what some may believe, estate planning does not have to be a negative or depressing experience. On the contrary, helping your loved one understand estate planning importance and the good they’re doing can change their entire perspective.
Take the First Step to Create Your Estate Plan
When you and your loved ones are ready to take the first step in protecting your futures, rely on the knowledgeable legal team at OC Wills & Trust Attorneys. We proudly serve clients in the Orange County, CA, area and can assist with all of your estate planning, wills, and trusts needs. Contact us today to get started.