October 18-24th is National Estate Planning Awareness Week, and Broward College Foundation wants to help you make the most of it! Planning is a powerful way to protect your loved ones and support the causes that have been close to your heart. National Estate Planning Awareness Week was adopted in 2008 to help the public understand what estate planning is and why it is such a vital component of financial wellness.
If you’re wondering why you should be thinking about your will, we’re here to debunk the most common myths about making estate plans:
- It’s too early for me to think about my will! We hope you won’t need to use it for many years to come, but it is never too early to start planning ahead. Whether you are eighteen or eighty, having a will can give you peace of mind that your wishes and loved ones are taken care of, no matter what.
- I wrote my will a couple of years ago, so I’m set. Have you acquired property? Do you have children? Life changes fast, so it is recommended that you update your will at least every five years.
- Wills are only for rich people. Many Americans are unaware that lack of estate planning and `financial illiteracy’ may cause their assets to be disposed of to unintended parties by default through the complex process of probate. Careful planning can prevent family members or other beneficiaries from being subjected to complex legal and administrative processes requiring significant expenditure of time, and greatly reduce confusion or even animosity among family members or other heirs upon the death of a loved one.
If you have any further questions about NEPAW, or if you want to learn more about how you can support Broward College Foundation in your will, please feel free to reach out to Scott Rivinius, Associate Vice President for Development at firstname.lastname@example.org or 954-201-7490.