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GUEST COLUMN |
FOR IMMEDIATE RELEASE |
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State Rep.
Tony Payton, Jr. |
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Estate planning for police officers
By state Rep. Tony Payton, Jr.
I read with interest John Baer's May 4 column ("Pay slain cops' families or ban guns? Look at both") that addressed the tragedy of slain police officers by calling for both reasonable gun restrictions and the extension of full benefits to the families of slain officers.
I certainly support both efforts. However, what was missing from the article is a discussion about creating an estate plan for our brave officers. In an effort to show gratitude and appreciation for their noble service and sacrifices, we need to do all we can to ensure that officers and their families have proper financial planning in the event of a tragedy.
Far too often I have attended benefit events for a fallen officer’s family. Benefit events are an excellent way to raise money, bring together the community and show our support – but benefits are often not enough to make a fallen officer’s family financially secure. We should provide estate planning for our officers to give them peace of mind that in the event of a tragedy, their family will be able to pay the mortgage and send their children to college. Those who put their lives on the line each day for the public good deserve no less.
Estate planning can help ensure a fallen police officer’s assets can be transferred in the most efficient way and as the officer intended. Potential partners exist that can help. There are financial organizations and foundations with programs specifically tailored for police officers offering estate planning, financial literacy classes and help with insurance needs. In a demonstration of solidarity, some financial organizations are beginning to pledge thousands of dollars to the families of fallen police officers.
Should we pass reasonable gun restrictions? Absolutely. I strongly support legislative proposals such as limiting gun purchases to one a month, mandatory reporting of lost and stolen weapons, and bans on assault weapons. However, in addition to preventing tragedies, we also need to ensure that the families of fallen officers are supported by sound financial planning. By providing estate planning services, we can protect the families of fallen police officers and honor the sacrifices these heroes have made.
I challenge the community -- citizens, local businesses, non-profit
organizations and elected officials -- to come together to spread awareness of
the importance of financial planning for police officers.
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