October 21st – 27th is National Estate Planning Awareness Week, and the American Red Cross wants to help you make the most of it by partnering with FreeWill! Preparing for emergencies is vital component of our mission and financial preparedness is often overlooked. Having an estate plan in place is a powerful way to protect your loved ones and support the causes you care about.
If you’re wondering why you should be thinking about your will, we’re here to debunk the most common myths about making estate plans:
- It’s too early for me to think about my will! We hope you won’t need to use it for many years to come, but it is never too early to start planning. Whether you are eighteen or eighty, having a will can give you peace of mind that your wishes and loved ones are taken care of, no matter what.
- I wrote my will a couple of years ago, so I’m set. Since writing your will, have you acquired property? Has your marital status changed? Have you had children? Life changes fast, so it is recommended that you update your will at least every five years. Also, adding the Red Cross as a beneficiary on your retirement account is as simple as updating your benefits - without modifying your will or estate plan!
- Estate planning is always so expensive. It can be, but with FreeWill the Red Cross has provided a free, online resource that guides you through the process of creating a legally valid will at your own pace.