October 17 to 23 marks the observance of National Estate Planning Awareness Week. The purpose is to assist the public in Texas and nationwide in understanding and appreciating the importance of estate planning to one's overall financial plan. Polls show that almost half of the public believes that estate planning is only for a small class of very wealthy people.
That is not the case. Everyone with assets will benefit by an estate plan. On a very basic level, a person can cause complications for him or herself and any heirs by not planning ahead. The failure to plan can result in significant extra expenses and fees that could have been avoided.