August Is National Make-An-Estate Plan Month
Every August, National Make-A-Will Month serves as a reminder to take care of something most of us already know we should do: plan for the future. We are calling August, National Make-An-Estate Plan Month.
Make-a-will month is a campaign that would seemingly be designed around awareness. Why? Because maybe everyone does not realize they need an estate plan. While we appreciate the intention, the reality seems to be the opposite. Most know that they need an estate plan, but they just have not gotten around to it.
Making a will is important, but a will is only one estate planning tool. Depending on your family, your assets, your goals, and your circumstances, the right estate plan may include a will, a living trust, powers of attorney, beneficiary designations, or some combination of these tools.
The important part is not deciding for yourself that you “need a will.”
The important part is getting started.
We Know Estate Planning Is Important. So Why Aren’t We Doing It?
There is a significant gap between what Americans know they should do and what they actually do.
Recent national estate planning research found that 73% of Americans say estate planning is personally important to them. Yet 56% have none of the core estate planning documents surveyed, including a will, trust, medical directive, or financial power of attorney.
Other national surveys have reached a similar conclusion: a substantial majority of Americans do not have a will or complete estate plan in place.
Why?
For many people, it isn’t because they don’t think estate planning is important.
They just haven’t gotten around to it.
One 2025 national survey found that 43% of people without a will said they simply had not gotten around to making one.
That may be the most relatable estate planning statistic of all.
There is always something else to do. Work. Kids. School. Sports. Vacations. Home projects. Finances. The list never ends.
Estate planning becomes something we intend to handle eventually.
Unfortunately, life does not always wait for eventually. Life can come at you fast.
The best time to create your estate plan was yesterday. The next best time is today.
Estate Planning Is About More Than What Happens When You Die
One of the misconceptions behind “Make-a-Will Month” is that estate planning is primarily about deciding who receives your property when you die.
That is certainly part of it, but a comprehensive estate plan can do much more.
Estate planning can help you decide:
- Who will manage your financial affairs if you become incapacitated;
- Who can make health care decisions for you if you cannot make them yourself;
- Who should care for your minor children;
- How and when your children or other beneficiaries should receive an inheritance;
- Whether your family may be able to avoid or simplify probate;
- How your home and other significant assets should be transferred; and
- Who you trust to carry out your wishes when you can no longer do so yourself.
These are not questions reserved for the wealthy. They are questions for everyone.
Estate planning is for families, parents, homeowners, retirees, young adults, and everyday people who want to make important decisions for themselves rather than leaving those decisions to chance.
Will or Trust? That Comes Later.
We frequently meet people who begin the conversation by saying:
“I think I need a will.”
Maybe.
Or perhaps a living trust makes more sense.
For some people, a relatively straightforward will-based estate plan may accomplish their goals. For others, avoiding probate, owning real estate, protecting young beneficiaries, planning for incapacity, or addressing more complicated family circumstances may make a living trust a better option.
There is no universal answer.
And you shouldn’t have to figure that out before asking for help.
That is what the consultation is for.
At Tuohy Law Offices, our estate planning attorneys can sit down with you, learn about your family and your goals, review your circumstances, explain your options, and help determine what type of estate plan makes sense for you. This initial conversation is often free, with the hope that you will simply get the conversation started.
The first step isn’t choosing between a will and a trust.
The first step is starting the conversation.
The Good News – There Is Still Time
As National Make-A-Will Month winds down, consider this your reminder.
Your reminder to get motivated and make an estate plan.
If estate planning has been sitting on your to-do list for weeks, months, or years, use August as the reason to finally move it to the top.
You don’t need to have everything figured out before contacting us.
That’s our job.
There is still time left in August to contact Tuohy Law Offices, schedule a consultation with one of our estate planning attorneys, and get the process started.
Make the appointment. Ask the questions. Understand your options. Make a plan.
Maybe August doesn’t need to be just National Make-A-Will Month.
Maybe it should be National “Let’s Finally Get Our Estate Plan Done” Month.
Ready to Get Started?
Contact Tuohy Law Offices today to schedule an estate planning consultation. Whether you already know what you need or simply know that it is time to stop putting it off, our attorneys are ready to help you take the next step.
Your Living Trust
At the end of your life or if you become incapacitated, your real estate, financial accounts, firearms, and other assets held in your name may need to go through probate.
- A Will is filed in probate court. The rule is that no one can legally sign on your behalf. Therefore, all assets in your name are subject to probate, which averages 18 months and is costly.
- A Living Trust completely avoids probate. An AB Living Trust protects up to $8 million of an Illinois estate from Illinois estate taxes.
- Your financial accounts, life insurance policies, and deferred compensation accounts can name your Living Trust as the beneficiary, subject to essential tax considerations.
- A Living Trust estate plan includes Health Care and Financial Power of Attorney documents. It also includes a Last Will and Testament. A Will is necessary for the guardianship of minor children and for transferring assets in your name out of probate.
Contact us today for further information or visit Tuohy Law Offices to learn more.
Illinois first responders, military members, veterans, educators, single parents, and nonprofit workers can lock in a 1/3 discount on estate planning services.
Ted Crawford
312-559-8400
17W220 22nd Street
Suite 510
Oakbrook Terrace, Illinois 60181
This blog entry is for information and planning purposes. Therefore, it is not legal advice. Please do not use this blog as a substitute for legal advice, which depends on specific facts and laws in a particular jurisdiction. No reader of this blog should act or refrain from acting based on any information included in or accessible through this blog without first seeking appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the reader’s state, country, or other appropriate licensing jurisdiction.
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