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Do You Have an Estate Plan?

Estate planning is something that most of us intend to do but few of us get around to actually doing it. Perhaps this will give you an incentive to get around to it.

Do you have an estate plan?  The most common answer to that question still seems to be “No, but I’ll get around to it.”

A recent survey by Lawyers.com indicates that, although more than half of adults 18 and over have at least one component of an estate plan, no one component of an estate plan is owned by even 50% of the survey sample.

The following percentages of estate plan ownership were found:

  • Traditional wills……………………………………………..45%
  • Living wills or advance medical directives………………41%
  • Power of attorney for health care…………………………38%
  • Durable power of attorney (for finances)…………………36%
  • Living trust…………………………………………………….31%

The good news is that if all the folks who don’t have complete or partial estate plans live to their life expectancy, they most likely will indeed “get around to it.”  Where the potential problem lies is in the fact that if they die earlier than expected, their heirs could have a mess on their hands.

It is true that you can control the disposition of your property by the way in which you hold ownership and by beneficiary designations.  However, an estate plan can tie up loose ends and provide additional piece of mind.

Agencies can request to have John Grobe, or another of Federal Career Experts' qualified instructors, deliver a retirement or transition seminar to their employees. FCE instructors are not financial advisers and will not sell or recommend financial products to class participants. Agency Benefits Officers can contact John Grobe at [email protected] to discuss schedules and costs.

About the Author

John Grobe is President of Federal Career Experts, a firm that provides pre-retirement training and seminars to a wide variety of federal agencies. FCE’s instructors are all retired federal retirement specialists who educate class participants on the ins and outs of federal retirement and benefits; there is never an attempt to influence participants to invest a certain way, or to purchase any financial products. John and FCE specialize in retirement for special category employees, such as law enforcement officers.