Celebrate Hispanic Heritage Month by Creating an Estate Plan
Each year, we celebrate Hispanic Heritage Month in the United States from September 15 through October 15th. Along with partaking in the numerous and varied festivals and activities planned for Hispanic Heritage Month, the Indianapolis estate planning attorneys at Frank & Kraft encourage you to consider celebrating by sitting down and creating an estate plan to protect yourself, your assets, and your loved ones.
What Is Hispanic Heritage Month?
Hispanic Heritage Month began in 1968 as Hispanic Heritage Week under President Lyndon Johnson and was expanded by President Ronald Reagan in 1988 to cover a 30-day period. It was enacted into law on August 17, 1988. Each year, a theme is chosen for the month-long celebration. For 2022 the theme for Hispanic Heritage Month is “Unidos: Inclusivity for a Stronger Nation.
During Hispanic Heritage Month, Americans celebrate the achievements, histories, traditions, and cultural diversity of Hispanic/Latino/Latinx Americans whose heritage is rooted in 20 Latin American countries and territories: Spain, Mexico, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Ecuador, Peru, Bolivia, Paraguay, Chile, Argentina, Uruguay, Cuba, Puerto Rico, and the Dominican Republic.
Throughout the United States, approximately 4.4 million Latinx-owned businesses contribute more than $700 billion to the economy annually. In Indianapolis alone, there are almost 5,000 Hispanic-owned firms and businesses. The Indy Chamber suggests ways to celebrate Hispanic Heritage Month this year, including:
- Shop Latinx with Yelp: Latinx businesses can order a free special window decal to proudly display on their storefronts. To get the window decal you need to fill out a form by Friday, September 27th. If you’re a shopper, be on the lookout for these decals so you know how to #shoplatinx.
- Sign up for Accelerate Latinx: Accelerate Latinx powered by Interise is an in-depth program that prepares high-potential, Latinx-owned businesses for accelerated growth and expansion through a 7-month curriculum. Check out the Indy Chamber website for more information.
- Educate yourself: Through a partnership with the IU Kelley School of Business and Indiana Business Research Center, the Indy Chamber compiled demographic and business information on the Hispanic community in the Indianapolis Region. Notable facts include Hispanic-owned businesses eclipsing $1.1 Billion in economic impact. To learn more about trends within the Hispanic community in Indy download the report.
Hispanic Heritage Month and Your Estate Plan
What better time to protect and preserve your Hispanic heritage than during Hispanic Heritage Month? Unfortunately, Hispanics tend to overlook the need for estate planning. According to a recent Caring.com survey, Hispanics are least likely to create an estate plan among the largest racial groups. Specifically, only 26 percent of Hispanic Americans have a Last Will and Testament, whereas 31 percent of blacks and 45 percent of whites reported having a Will.
Creating a comprehensive estate plan is the best way to avoid disputes (both while you are alive and after you are gone), ensure that your wishes are honored regarding healthcare decisions and the distribution of your assets, and protect your assets, your loved ones, and yourself. This year, do something lasting for yourself and your family. Make an appointment with an experienced estate planning attorney to discuss getting started on your estate plan.
Contact Indianapolis Estate Planning Attorneys
For more information, please join us for an upcoming FREE seminar. If you have additional questions about estate planning or you are ready to get started on your estate plan, contact the experienced Indianapolis estate planning attorneys at Frank & Kraft by calling (317) 684-1100 to schedule an appointment.
Paul Kraft is Co-Founder and the senior Principal of Frank & Kraft, one of the leading law firms in Indiana in the area of estate planning as well as business and tax planning.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
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