As an attorney who handles a lot of Wills and Trusts, it amazes me how few people have taken the time to do even the most basic estate planning. As Laura Fletcher reported in a recent article on planned charitable giving, only 40% of Americans have wills, and of Americans with children, only 50% have wills. But estate planning should not be seen as something for the wealthy alone nor should it be put off until tomorrow.
Estate planning is a means not only to provide monetary legacies for our loved ones, but also to designate guardians for minor children, plan for future medical decisions, and to be prepared for whatever comes our way.
Estate planning can also be an effective way to leave a legacy, even a modest one, to charitable institutions. So many of us give regularly to charities throughout our life, why not continue the support even after we have passed on? On the other hand, perhaps we have not been able to be as generous with charities as we would have liked- a planned gift at our parting could make up the difference.
If you do not have an estate plan established, or if yours needs to be updated to account for life changes, McCarthy and Akers can help. Give us a call to set up an appointment. It is never too soon to plan.