Financial Planning Month, Estate Planning Week Prime Time to Create a Personal Plan and Will
October 13, 2022
October is National Financial Planning Month and National Estate Planning Awareness Week is October 17-23, calling attention to what estate planning is and why it is an important component of a personal financial plan. Less than half of U.S. adults have a will that indicates plans for their money and estate after their death, according to a survey conducted by Gallop in 2021. The Community Foundation of Northeast Iowa encourages individuals to work with a professional advisor to create their own estate plan and financial plan.
“While creating a will can feel overwhelming, it is a fairly simple process that ensures an individual’s wishes are fulfilled after they are gone,” said Laurie Everhardt, director of development for the Community Foundation of Northeast Iowa. "In addition to naming family or heirs in a will, individuals can also name specific causes or organizations they care about to provide long-lasting charitable support for the community.”
The Community Foundation has will planning tips available on their website at www.cfneia.org/legacygiving to help individuals get started. Community Foundation staff are also knowledgeable about charitable planning and can assist individuals in creating a personal plan for their will.
For example, individuals can direct a planned gift to the nonprofit organizations that best align with their charitable interests. Additionally, a bequest can be used to create an endowment fund, which will last in perpetuity, or contribute to an existing fund. Some of the benefits of establishing a bequest can include flexibility, tax savings, recognition, personalized giving and efficiency.
The Community Foundation of Northeast Iowa works with individuals, families and businesses to create charitable solutions that match their passions, maximize tax benefits and create a philanthropic legacy for generations to come.
For questions about charitable giving through your estate plan, contact Laurie Everhardt at 319-243-1352 or leverhardt@cfneia.org.
