Why Black Wealth Matters: The Role of Estate Planning

Legacy Minute: Times are changing. The 2022 National Vision Conference brought together the Association of African American Financial Advisors (AAAA/AAAFA) and the Association of Black Estate Planning Professionals (ABEPP) to discuss “Bridging The Racial Wealth Gap.” It is always a powerful experience to be in a room of Black professionals committed to increasing the knowledge of and offering assistance to Black communities. We discussed the fact that American White households have a net worth ten times higher than that of American Black households ($171,000 versus $17,000). There are many reasons for that gap but one that must be discussed is the lack of resources. When we don’t have access to the funds, wealth management tips, financial professionals, investing experts and estate planning attorneys, it is so much harder to know what steps to take to move the needle towards generational wealth for our families. AAAFA/AAAA and ABEPP are doing the work to get the word out and are encouraging us all to share information to increase the power of our dollars and provide for the generations to come. I am proud to do my part by drafting estate plans, assisting families thru the probate process, and educating members of our community with webinars, presentations, discovery calls and social media posts. We’ve come so far and I am looking forward to see how much further our children and grandchildren can go because of the changes we are making today. If you’re in Georgia and would like more information about how to set your family up for generational wealth using legal documents, click the link in the bio and schedule a Consultation today!