NASHVILLE, Tenn. (WTVF) — Nashville residents and workers can now create wills at no cost through a new program announced by Mayor Freddie O'Connell, addressing a gap in financial planning for most Americans.
About 70% of Americans don't have a will, according to nationwide statistics, leaving families vulnerable when tragedy strikes. The new initiative through Nashville's Financial Empowerment Center aims to change that for Davidson County residents and workers.
"To be able to do this at no cost is a huge step forward," O'Connell said.
Erin Akery, a senior manager at Nashville's Financial Empowerment Center, conducts appointments to help people with debt relief and now legacy planning. The center offers comprehensive services beyond just will creation.
"It's also helping people just kind of look at their whole picture, make sure they've got beneficiaries on all of their retirement accounts, bank accounts, life insurance policies, taking a look at their titles, their deeds to make sure that they would pass the way that they would want them to pass as far as ownership goes if someone were to pass away.
It's a pretty large comprehensive service."
The importance of having a will extends beyond basic estate planning, Akery explained. Without clear documentation of someone's wishes, critical decisions fall to others who may not understand the person's preferences.
"If someone has not shared their wishes, it is up to the state or people who may not know you to make decisions about your health and property," Akery said.
For parents, wills become even more crucial for protecting children's futures.
"In a will, if you have dependent children, you can assign them a guardian. It's an important document to protect your family," Akery said.
The Nashville Financial Empowerment Center offers appointments for people who work or live in Nashville. Sessions can be scheduled in person or through video or phone calls.
Have questions about creating your will or need help with estate planning? Contact Kim Rafferty at kim.rafferty@NewsChannel5.com to share your story or get more information about Nashville's free will program.
In this article, we used artificial intelligence to help us convert a video news report originally written by Kim Rafferty. When using this tool, both Kim and the NewsChannel 5 editorial team verified all the facts in the article to make sure it is fair and accurate before we published it. We care about your trust in us and where you get your news, and using this tool allows us to convert our news coverage into different formats so we can quickly reach you where you like to consume information. It also lets our journalists spend more time looking into your story ideas, listening to you and digging into the stories that matter.
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