The NAEPC Education Foundation and the National Association of Estate Planners & Councils (NAEPC) are promoting April as National Financial Literacy Month.
The goal of the awareness campaign is to help the American public learn how to keep their financial and estate plans up to date. Financial Literacy Month was officially designated by a Congressional proclamation. NAEPC is joining with financial professionals, nonprofit organizations and financial services organizations to promote financial literacy. To learn more about the NAEPC Education Foundation and their improving financial awareness campaigns, please visit: http://www.estateplanninganswers.org/national-financial-awareness-campaigns/.
The organizations believe increased awareness is necessary, as evidenced by the following:
- An estimated 120 million Americans lack a proper estate plan, making estate planning a severely overlooked area of financial management.
- Most Americans over 65 depend totally on Social Security, but with increased knowledge and planning, seniors could be more secure.
- Estate planning is important for everyone, not just wealthy people. Issues such as managing assets and bill payments in the event of a disability or disease can be handled carefully with advance planning.
- Most Americans are unable to adequately plan for retirement. With proper knowledge and planning, that can change.
If you have delayed creating or updating your estate plan, now is the time to take action. You will need to gather and organize your financial information, decide on your personal financial goals, and seek out an estate planning attorney to develop your estate plan. An estate plan should be updated at least every three years or whenever there is a change in your situation such as marriage, divorce, births or deaths, or a substantial change in the size of your estate.