Washoe County is assisting the National Association of Estate Planners & Councils (NAEPC) to promote awareness of what is estimated to be one of the most overlooked areas of personal financial management in the U.S.
Over 120 million Americans do not have up-to-date estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death. NAEPC says this costs the affluent and middle classes millions of wasted dollars and hours of emotional hardship each year, which can be minimized with advanced planning and action.
“Estate planning is one of the most important areas of personal financial management in the country,” said Don Cavallo, Washoe County Public Administrator. “We want everyone to make it an annual part of their lives, much like changing the smoke detectors in your home, as many people mistakenly believe if they’re not wealthy, they do not need a comprehensive financial and estate plan.”
Cavallo also said advance planning is crucial to deal with issues such as guardianship of children, managing bill paying and assets in the event of sickness or disability, care of a special needs child, long-term care needs, and distribution of retirement assets.
NAEPC, formed in 1962 as a non-profit business league, is the leading professional organization for estate planning. It provides its 28,000 plus credentialed members with ongoing education and a forum for professional networking. NAEPC has become a trusted and centralized resource for estate planning professionals by offering current quality financial content and tools through various means, including: its educational foundation; the NAEPC Foundation [formed as a 501(c)(3) in 2005]; and its unique public awareness estate and financial education portal (www.EstatePlanningAnswers.org).