Author: Amanda Hardy
Planning Unit: Breckinridge County CES
Major Program: Estate Planning
Plan of Work: Building Strong Financial Behaviors
Outcome: Initial Outcome
Regardless of net worth, estate planning is important to protect, and help ensure, your personal and financial goals are realized after death. Unfortunately many people fail to properly plan for transfer of their possessions and property at the time of death. A properly executed estate plan can reduce family stress, reduce federal and state tax obligations, and allow the estate to be settled in an expedient fashion saving both time and money. Many individuals perceive estate planning as complicated, costly, and unpleasant; thereby, leaving possibly leaving their family, farming operation, or small business at risk. To address this need, the Henderson County Extension Office hosted an Estate Planning workshop. Emphasis was on the estate planning process, including steps to develop an estate plan, establishing goals for an estate plan, specific estate planning tools (Power of Attorney, Trusts, and Wills), the probate process, insurance, funeral planning and gift and estate tax laws. At least 25 consumers participated in the workshops. Participants were surveyed following the classes. Statistically significant mean increases in knowledge were reported on three knowledge areas measured: 1. How to manage/address current estate planning issues facing my family, farming operation, or business; 2. Identifying estate planning strategies; and 3. Confidence in handling estate planning or specific financial matters. Additionally, 100% planned to create at least one specific estate planning goal, in addition to 100% planning to implement at least one strategy in regard to estate planning and plan to take action toward implementing at least one estate planning strategy as a result of participating in the program. One participant stated, “We have a will but our executor died. Through this class I realize the will we had was not what we needed.” Another said, “I will take action within the month to get more organized and begin communication.”
The Breckinridge County 4-H Choruses collaborated with the Louisville Youth Choir, thanks to a gener... Read More
As their membership ages, the Kentucky Extension Homemakers recognize the challenge that is facing t... Read More