National Estate Planning Awareness Week, October 17-23, 2011

We at Hallock & Hallock, are pleased to announce that we are joining our colleagues at WealthCounsel in a campaign to showcase National Estate Planning Awareness Week, October 17-23, 2011.According to a 2010 industry trends survey of estate planners conducted by WealthCounsel, nearly 70% of the respondents indicated that Americans fail to plan because they lack awareness as to why they should.  We are passionate about building awareness of the importance of thoughtful planning and committed to educating the public about the negative consequences of what can happen to one’s loved ones when the proper documents are not in place. Estate planning is a process and involves building a relationship between the attorney and the client; it is not merely a single transaction.Estate planning is one of the most overlooked areas of personal financial management.  More than 120 million Americans do not have proper estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death.  This costs many families wasted dollars and unnecessary hardship that can be minimized with proper planning.In 2008, the National Association of Estate Planners and Councils (NAEPC) worked with Congress to pass a resolution proclaiming the third week in October as National Estate Planning Awareness Week.  The resolution noted that “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.”We encourage you to use this week to commit to putting an estate plan in place by the end of the year or reviewing and updating your existing plan to make it consistent with your current wishes and situation.