We share this story and the crucial information that follows to bring your attention to National Estate Planning Awareness Week, October 21-27.
Joe and Ann’s Story
Joe was one such person – a hardworking American who believed as many do that estate planning is only for the wealthy. Joe earned a middle-class income, had 3 children – one nearing college age – and the typical debts of many American families. He and his wife Ann had been able to save enough to cover three months of expenses, so they felt safe financially, in case Joe got hurt at work or lost his job. Sadly, they couldn’t predict what would happen just 2 months after their 10th anniversary. On a Tuesday morning, Joe woke up with a severe headache. Ann called 911, and Joe was rushed to a brain trauma unit where he was diagnosed with a fatal aneurysm. A few days later, Joe died. Ann and the children were alone and, worse yet, she and Joe had no estate plan. In fact, Joe had no Last Will & Testament. It was one of those things he and Ann had talked about, but never quite got around to doing.
Given the challenges Americans face with saving, investing, and planning for their future, it is not surprising that estate planning is one of the most overlooked areas of personal financial management. But here is what you need to know: Regardless of the size of your estate, planning for what will happen to your assets if you become disabled, or when you pass away, is very important. Without estate planning, hours of emotional hardship and many dollars may be wasted. Just talking about it isn’t enough, because a verbal agreement is not a legal agreement. Your wishes must be put into writing and the proper legal formalities must be followed. In most cases, you’ll need an experienced estate planning attorney to help you.
Contact an Estate Planning Attorney Today
Estate planning is a tool that reduces uncertainty, ensures respect for your financial, legal and medical wishes, and provides security for your loved ones. There is no better time than National Estate Planning Awareness Week to begin seriously considering your needs. The St. Louis, Missouri estate planning attorneys of Quinn Estate & Elder Law have the experience and compassion to help you secure a firm financial foundation for your family for years to come.