There has been a notable decline in estate planning among older Americans in recent years, but the good news is that trend may be changing. The 2023 Wills and Estate Planning Study by Caring.com revealed that while 6 out of every 10 Americans planned for retirement, only 1 out of every 3 have an estate plan. Those statistics are scary considering an estate plan allows an individual to express his or her wishes and transfer assets to loved ones in the event they are incapacitated or die. Without an estate plan grieving family members will be left to argue over medical decisions or belongings. With no estate plan the court will get involved and assign a representative of the estate then oversee the distribution of assets, for a fee.
Thankfully, the pandemic and resulting inflation seems to have increased the awareness of the need for estate planning. But even though 1 out of every 4 Americans are now taking estate planning more seriously, many remain hesitant to move forward and begin the process because they believe creating an estate plan will be time consuming. We want to change that. Educating others in the importance of all aspects of financial planning has been our priority since we opened our doors in 2011. Our founder and CEO, Mark Henry, has a passion for estate planning and understands communication is key to ensuring a smooth client experience. Contact Alloy Wealth Management and we will schedule an initial Q & A session with you and explain what you can bring to the meeting with your financial advisor to help simplify the estate planning process.
At your first meeting, your advisor will want to get to know you. They’ll ask about your family, your career, retirement plans, assets, heirs, your end-of-life wishes and who you’d like to name to oversee your finances in the event you are incapacitated. They’ll educate you on the various legal documents necessary to an estate plan and discuss how insurance which can help transfer wealth in a tax-efficient way. They’ll answer any questions you may have.
An estate plan won’t be created overnight because there are lots of i’s to dot and t’s to cross. After the initial Q & A, you’ll be in touch by phone and email to gather the remaining information necessary to finalize your estate plan. Then an attorney will draft the documents and we will schedule a day for you to come back and sign. We promise to make the estate planning process as simple and stress-free as possible. Call 800-689-3935 to schedule an appointment.