April is Financial Awareness Month
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CGP Partners with the Financial Awareness Foundation for Financial Awareness Month
Indianapolis, IN: The Financial Awareness Foundation through its promotion of National Financial Awareness Month seeks to increase the number of American households with adequate financial and estate planning to better secure their financial future. Across all professions, (including ours), the rate of individuals without estate plans is staggering. The national rate of households currently without an estate plan is over 50%. CGP is partnering with the foundation to bring attention to this epidemic and to serve as a reminder for you to check on your current plan or take that step to create a plan that addresses your long term financial goals and estate planning needs.
To understand the impact of estate planning on philanthropy, one has to go no further than the recent death of Prince who passed with an estimated worth of over $300 million and no estate plan. Conversely, there are many instances of individuals of modest income who, through prudent financial planning, were able to make significant charitable gifts to an organization in which they deeply valued. Sound financial and estate planning increase the potential for philanthropy and are the building blocks to charitable gift planning.
Throughout the month of April, CGP will be providing information from the Financial Awareness Foundation on both improving financial literacy and the importance of estate planning. Our goals are to help make this information available for you, your coworkers in your organizations, your clients and prospective donors. We are all familiar with the salient Chinese proverb, “The best time to plant a tree was 20 years ago. The second best time is now.”