[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 732 Introduced in House (IH)]







110th CONGRESS
  1st Session
H. RES. 732

  Designating the third week of October as ``National Estate Planning 
                           Awareness Week''.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 10, 2007

 Mr. Thompson of California submitted the following resolution; which 
    was referred to the Committee on Oversight and Government Reform

_______________________________________________________________________

                               RESOLUTION


 
  Designating the third week of October as ``National Estate Planning 
                           Awareness Week''.

Whereas careful estate planning can greatly assist Americans in preserving 
        assets built over a lifetime for the benefit of family, heirs, or 
        charities;
Whereas it is estimated that over 120 million Americans do not have up-to-date 
        estate plans to protect themselves or their families in the event of 
        sickness, accidents, or untimely death;
Whereas a 2004 Roper poll commissioned by the American Institute for Certified 
        Public Accountants found that two-thirds of Americans over age 65 
        believe they lack the knowledge necessary to adequately plan for 
        retirement, and nearly one half of all Americans are unfamiliar with 
        basic retirement tools, such as a 401K plan;
Whereas estate planning involves many considerations, including safekeeping of 
        important documents, documentation of assets, operation of law in the 
        various States, preparation of legal instruments, insurance, 
        availability of trust arrangements, charitable giving, inter vivos care 
        of the benefactor, and other important factors;
Whereas estate planning encourages timely decisions about the method of holding 
        title to certain assets, the designation of beneficiaries, and the 
        possible transfer of assets during the life of the benefactor;
Whereas many Americans are unaware that lack of estate planning and ``financial 
        illiteracy'' may cause their assets to be taxed at maximum rates or, by 
        default through the complex process of probate, to be disposed of to 
        unintended parties;
Whereas alternatives to disposition of assets after death, such as planned gift-
        giving, may accomplish a benefactor's goals and reduce the amount of an 
        estate given to taxes;
Whereas careful planning can prevent family members or other beneficiaries from 
        being subjected to complex legal and administrative processes requiring 
        significant expenditure of time, and greatly reduce confusion or even 
        animosity among family members or other heirs upon the death of a loved 
        one;
Whereas important considerations as to donation of organs and use of life 
        support functions may be made through the estate planning process;
Whereas the implementation of an estate plan starts with sound education and 
        planning, and then may require the proper drafting and execution of 
        appropriate legal documents, including wills, trusts, and durable powers 
        of attorney for health care;
Whereas the third week of October 2007 should be designated as ``National Estate 
        Planning Awareness Week''; and
Whereas the National Association of Estate Planners and Councils, representing 
        over 28,000 estate planning professionals, together with the United 
        Press Syndicate, the largest independent newspaper syndicate in the 
        world, are prepared to provide such educational information to the 
        public in a focused manner during National Estate Planning Awareness 
        week: Now, therefore be it
    Resolved, That the House of Representatives--
            (1) encourages the distribution of estate planning 
        information by professionals to all Americans; and
            (2) supports the designation of a ``National Estate 
        Planning Awareness Week''.
                                 <all>