| If you haven't taken the time to prepare
| |
| | monetary value but certainly have a lot
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| your estate plan, you're not alone.
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| | of sentimental value."
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| According to a survey conducted by
| |
| | Another reason why many people
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| FindLaw.com, a whopping 55% of Americans
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| | procrastinate when it comes to estate
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| haven't even taken the time to have a
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| | planning is their feeling that they don't
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| will prepared, and 67% don't have a
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| | have enough money to bother with an
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| living will in case they become
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| | estate plan. However, as Attorney Berman
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| incapacitated or terminally ill.
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| | is quick to point out, "estate planning
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| But that's not all! The survey also found
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| | is not just about money. In fact, it's
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| that even those who did have a will
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| | about taking care of your loved one's
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| generally did not keep it updated. In
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| | needs in the event you can't do it on
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| fact, nearly 40% said they had not
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| | your own. Money is often a means to an
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| updated their will within the last five
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| | end, but the end is often the well-being
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| years.
| |
| | of loved ones." That's the "legacy" that
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| It's not as though people are unaware of
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| | seems to motivate most people when it
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| the need to plan their estates. Estate
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| | comes to estate planning.
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| planners and many other professionals
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| | If we are to learn anything from the
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| have preached the need for wills, and
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| | Allianz American Legacies Study, it would
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| other estate planning documents for
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| | seem to be that estate planners should
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| years. Most recently, the Terri Schiavo
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| | direct their efforts toward "legacy"
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| case brought the issue of living wills to
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| | planning rather than "inheritance"
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| national prominence. Yet, despite the
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| | planning. Unfortunately, most estate
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| brief surge in demand for living wills
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| | planners spend their time learning about
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| and other estate planning documents
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| | the intracacies of the estate tax laws
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| during that time, most Americans seem to
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| | and the probate laws when they should be
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| have lapsed back into complacency about
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| | learning about assessing a client's
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| planning for their incapacity or death.
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| | attitudes about family traditions and
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| "That, in itself, may be the problem,"
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| | history, about sharing stories, and about
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| says Attorney Alan H. Berman of Hartford,
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| | their values and wishes. Not that the
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| Connecticut. People don't like talking
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| | estate tax laws aren't important, because
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| about death and dying, especially when
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| | they are. It's just that they're not
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| they're talking about themselves or their
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| | going to motivate many people who just
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| loved ones." Attorney Berman says that
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| | don't care about such things.
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| many of his clients put off having a will
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| | That seems to be in accord with the
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| prepared until the very last minute. "I
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| | findings of the Allianz American Legacies
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| get a lot of calls just before they have
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| | Study. In that study, it was found that
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| to get on an airplane," he says. "Then
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| | "[t]he top qualities both generations
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| they know they can't put it off any
| |
| | look for in a legacy advisor are honesty,
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| longer."
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| | trustworthiness, compassion, a good
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| Death and dying are nobody's favorite
| |
| | listener and a strong and clear
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| topics, to be sure. But, there seems to
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| | communicator."
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| be more to it than that. The Allianz
| |
| | So there you have it! If you haven't
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| American Legacies Study, which was
| |
| | taken the time to have your estate
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| sponsored by the Allianz Life Insurance
| |
| | planning done, it may be because your
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| Company, surveyed 2,627 people of all age
| |
| | focus was on money. Instead, try focusing
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| groups "to identify how they define
| |
| | on your family and all the things that
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| leaving a legacy and how families are
| |
| | you love and cherish. You might find that
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| communicating about these sensitive
| |
| | you're suddenly anxious to find a legacy
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| issues today."
| |
| | advisor that will make your estate
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| One of the interesting - and, probably,
| |
| | planning experience a very memorable one.
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| most revealing - facts to come out of the
| |
| | You're family will love you all the more
|
| Allianz American Legacies Study was this
| |
| | for it.
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| - seniors and baby boomers both ranked
| |
| | Just one more thing! According to the
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| money last on their list of important
| |
| | Allianz American Legacies Study, it is
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| estate planning issues. Ranked ahead of
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| | estimated by Paul Schervish and John J.
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| money was the idea of leaving a legacy
| |
| | Havens of the Boston College Center on
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| which, according to the study, "captures
| |
| | Wealth and Philanthropy that $41 trillion
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| all facets of an individual's life -
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| | is set to be willed, passed on, and/or
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| including their family traditions and
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| | left to others over the next 50 years.
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| history, sharing stories, values and
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| | So, even though we don't like to talk
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| wishes."
| |
| | about it, it is an integral part of
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| Attorney Berman agrees with the
| |
| | everyone's estate planning.
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| assessment of the Allianz American
| |
| | Attorney Michael Pancheri is the founder
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| Legacies Study. "From my experience," he
| |
| | and CEO of the Living Trust Network. You
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| says, "people seem to clam up as soon as
| |
| | may contact him by email at
|
| you start talking about money. They'd
| |
| | You may also contact him at the Living
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| rather talk about their family history or
| |
| | Trust Network's web site. Its URL is
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| certain mementos - prized personal
| |
| | Copyright 2005. The Living Trust Network,
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| possessions that might not have a lot of
| |
| | LLC.
|
