Nashville Financial Empowerment Center to offer legacy planning support to help residents retain wealth by protecting and preserving assetsToday, the Nashville Financial Empowerment Center (FEC), in partnership with the national nonprofit Cities for Financial Empowerment Fund (CFE Fund), announced that free legacy planning services are now available through the Nashville FEC. This one-on-one financial counseling program offers residents access to help with legacy planning and taking steps to protect their assets at no cost.
A partnership of the Mayor’s Office and United Way of Greater Nashville, the Nashville FEC helps people move from a state of instability to a state of empowerment with new savings habits, higher credit scores and lower debt burdens.
“Everyone deserves the chance to plan for their future and legacy – to ensure you and your family are prepared,” said Mayor Freddie O’Connell. “By adding legacy planning to the Financial Empowerment Center, we’re making that opportunity available to every Nashvillian – at no cost.”
Research shows that the vast majority of Americans own at least one asset – a bank account, a 401K, or a home – that is valuable today and likely to appreciate, but few have taken the steps necessary to secure those assets. Nearly 70 percent of Americans do not have a will or a broader legacy or estate plan. By increasing access to information about topics like adding beneficiaries to accounts and creating essential documents such as wills and powers of attorney, this program will help people in America protect their assets for the future.
“Nashville FEC counselors work hard to help clients build assets. With the addition of legacy planning services, counselors also can help Nashvillians protect and preserve those assets for future generations”, said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund. “We are thrilled to partner with Davidson County and Nashville Mayor Freddie O’Connell to provide these crucial services and ensure that legacy planning is available for everyone.”
Nashville FEC is one of dozens of cities and counties nationwide offering free financial counseling services through the FEC initiative. At FECs, professionally trained counselors provide one-on-one guidance to help individuals and families with low and moderate incomes manage their finances, pay down debt, increase savings, establish and build credit, access safe and affordable mainstream banking products – and now, protect and preserve their assets.
FECs have served more than 200,000 clients nationwide. Collectively, they have helped residents reduce over $344 million in debt and grow their families’ savings by nearly $70 million.
Since opening in 2013, the Nashville/Davidson County FEC has supported more than 11,545 clients, helping them reduce $35+ million in debt and build $5.5+ million in savings.
To make an appointment visit the Financial Empowerment Center site.67\
