Estate Planning is important for every family, no matter the amount of assets you have, which is one of the most common reasons for many people not setting one up.
In an article from The Savannah Tribune, it is highlighted that, "A 2012 Urban Institute study proposes that the lack of estate planning by Black Americans accounts for about 12% of the wealth gap between White and Black Americans." and that, "the joint report found that 20% of wealth for White Americans comes from formal and informal gifts from family members."
"Consolidating gains through estate planning is important because increases in income cannot be passed to future generations. The thinking is that, if more Black Americans participate in estate planning, intergenerational wealth will grow, the gap will lessen, and an equitable society will be more achievable."
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