National Grandparents Day 2024
National Grandparents Day is more than just a special occasion to celebrate these cherished family members who bring wisdom, love, and joy into our lives.
It’s also an opportune moment to think about the future, specifically regarding estate planning and how grandparents can effectively pass wealth to their grandchildren.
When is National Grandparents Day 2024?
Grandparents Day is celebrated every first Sunday after Labor Day. In 2024, National Grandparents Day will be celebrated on Sunday, September 8. Mark your calendars and prepare to show your appreciation for the grandparents in your life (whether biological or honorary).
History of National Grandparents Day
National Grandparents Day has a rich history rooted in gratitude and family values.
It was first proposed in 1961 by Jacob Reingold, who wanted to recognize the vital contributions of millions of American seniors who are grandparents.
By 1963, National Grandparents Day became an official holiday in the borough of the Bronx.
In 1970, Marian McQuade, an Oak Hill, West Virginia homemaker, started advocating for a day to honor grandparents. She connected with civic, business, faith, and political leaders and launched a statewide campaign. By 1973, Governor Arch Moore declared the first Grandparents Day in West Virginia.
On January 27, 1978, President Jimmy Carter proclaimed the first Sunday after Labor Day as National Grandparents Day. Since then, it has become a cherished tradition celebrated by families across the United States.
Who Gets Involved in National Grandparents Day?
“National Grandparents Day ” involves everyone—children, parents, and grandparents alike. Schools, community organizations, and churches often host events to honor grandparents,” says Joanne Farace, Senior Vice President, Investments at David Lerner Associates, Inc.
“Families come together to express their love and appreciation through various activities and gestures, making this day a collective effort to recognize the wisdom and love of grandparents.”
National Grandparents Day Participation Ideas
National Grandparents Day offers a perfect occasion to start or revisit your estate planning.
Here are some participation ideas to consider:
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- Family Meetings: Use this day to have an open discussion about your estate plans with your family. Ensure everyone understands your wishes and your steps to secure their future.
- Gifting Wealth: Consider making financial gifts to your grandchildren. This could be through contributions to their education savings accounts or starting a custodial account.
- Reviewing Your Will: Take the time to review and update your will. Ensure it reflects your current wishes and includes provisions for your grandchildren.
- Trusts: Establish a trust to manage and protect your assets for your grandchildren. Trusts can provide significant tax benefits and ensure your wealth is distributed according to your wishes.
- Life Insurance: Evaluate your life insurance policies to ensure your grandchildren are beneficiaries. This can provide them with financial security in the future.
Conclusion
National Grandparents Day is a meaningful time to reflect on the legacy you want to leave for your grandchildren. Through thoughtful estate planning, you can ensure your wealth is passed on efficiently and in accordance with your wishes.
At David Lerner Associates, we’re here to help you navigate the complexities of estate planning. Contact us today to discuss your estate planning needs and secure a prosperous future for your grandchildren. Let’s celebrate National Grandparents Day by taking the first step toward preserving your legacy.
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.