This week is “National Estate Planning Awareness Week” as designated by the United States House of Representatives. Below is the resolution passed by the House of Representatives in 2008. For all the reasons stated in the resolution it’s a good time to start your estate planning if you have not already, and if you have an estate plan it’s a great time to review the plan to see that it still meets your needs and desires, and deals with all your concerns.
Happy National Estate Planning Awareness Week!
110TH CONGRESS
2D SESSION H. RES. 1499
Designating the third week of October as ‘‘National Estate Planning
Awareness Week’’.
IN THE HOUSE OF REPRESENTATIVES
S
EPTEMBER 25, 2008
Mr. T
HOMPSON of California (for himself, Mr. BACA, Mr. BERRY, Mr. BOSWELL,Mr. BRALEY of Iowa, Mr. CARSON, Mr. CAZAYOUX, Mr.CHILDERS, Ms. CLARKE, Mr. CLAY, Mr. CLEAVER, Mr. COOPER, Mr.COURTNEY, Mr. CRAMER, Ms. DEGETTE, Mr. DELAHUNT, Ms. EDWARDS of Maryland, Mr. ELLISON, Mr. EMANUEL, Ms. ESHOO, Mr. ETHERIDGE,Mr. GILCHREST, Mr. GONZALEZ, Mr. GENE GREEN of Texas, Mr. HALL of New York, Ms. HARMAN, Mr. HILL, Mr. HINCHEY, Ms. HOOLEY, Mr. ISSA, Ms.
JACKSON-LEE of Texas, Ms. KILPATRICK, Mr. LEWIS of Georgia, Ms. MATSUI, Mr. MCDERMOTT, Mr. MCNERNEY, Mr. PERLMUTTER, Mr. RODRIGUEZ, Mr. ROSS, Mr. ROTHMAN, Mr. RUPPERSBERGER, Mr. SALAZAR, Mr. SAXTON, Ms. SCHAKOWSKY, Mrs. SCHMIDT, Mr. SIRES, Mr. WALDEN of Oregon, Ms. WASSERMAN SCHULTZ, Mr. WAXMAN, Mr. WELCH of Vermont, and Ms. WOOLSEY) submitted the following resolution; which was referred to the Committee on Oversight and Government Reform
RESOLUTION
Designating the third week of October as ‘‘National Estate
Planning Awareness Week’’.
Whereas it is estimated that over 120,000,000 Americans do
not have up-to-date estate plans to protect themselves or
their families in the event of sickness, accidents, or until death.
Whereas a 2004 Roper poll commissioned by the American
Institute for Certified Public Accountants found that
two-thirds of Americans over age 65 believe they lack the
knowledge necessary to adequately plan for retirement,
and nearly one half of all Americans are unfamiliar with
basic retirement tools, such as a 401(k) plan;
2
Whereas careful estate planning can greatly assist Americans
in preserving assets built over a lifetime for the benefit
of family, heirs, or charities;
Whereas estate planning involves many considerations, including
safekeeping of important documents, documentation
of assets, operation of law in the various States,
preparation of legal instruments, insurance, availability
of trust arrangements, charitable giving, inter vivos care
of the benefactor, and other important factors;
3
Whereas estate planning encourages timely decisions about
the method of holding title to certain assets, the designation
of beneficiaries, and the possible transfer of assets
during the life of the benefactor;
4
Whereas 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;
5
Whereas alternatives to disposition of assets after death, such
as planned gift-giving, may accomplish a benefactor’s
goal of providing for his or her family and favorite charities;
6
Whereas 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;
7
Whereas important considerations as to donation of organs
and use of life support functions may be made through
the estate planning process;
8
Whereas the implementation of an estate plan starts with
sound education and planning, and then may require the
proper drafting and execution of appropriate legal documents,
including wills, trusts, and durable powers of attorney
for health care;
9
Whereas the third week of October should be designated as
‘‘National Estate Planning Awareness Week’’; and
10
Whereas the National Association of Estate Planners and
Councils, representing over 28,000 estate planning professionals,
together with the Universal Press Syndicate,
the largest independent newspaper syndicate in the world,
are prepared to provide such educational information to
the public in a focused manner during National Estate
Planning Awareness Week:
Now, therefore be it
Resolved, That the House of Representatives—
(1) encourages the distribution of estate planning information by professionals to all Americans;
and
(2) supports the designation of a ‘‘National Estate Planning Awareness Week’’.
E:BILLSHR1499.IH HR1499 wwoods2 on PRODPC68 with BILLS
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