Five Great Reasons to Have a Will
Do you have a Last Will and Testament? While a surprising number of people find ways to procrastinate concerning this important step in estate planning, there are compelling reasons to get this task completed. If you do not have a will, many of the decisions regarding your estate will be made by the government instead of by you.
- A will gives you the ability to choose who will care for your dependents. If you have minor children, it is important to designate in your will who you would nominate to replace you in this important role. Without a will, the state will appoint a guardian, and it may not be who you would have chosen.
- In a will, you have the power to select who will be trusted to complete your affairs after your death. The personal representative of your estate will have the responsibility for winding down all of your affairs, appraising your estate, and making distributions to your heirs. If you do not have a will, any person interested in your estate could become the personal representative. It may not be the person you would have selected, and it may not be someone who has your interests or those of your heirs in mind.
- The will is the means by which you can designate how your possessions will be distributed. No matter what size your estate is, you need to have a will so that your wishes are followed. Please do not assume that your loved ones will receive the benefit of your estate in the manner you intend unless you have a will.
- A will is a way to leave a legacy. It serves as a testimony to your beliefs. You can include a Christian Preamble that gives voice to your faith, and then provide bequests to benefit your church and other charities so that your actions illustrate your faith. Without a will, the probate court will make no provision for gifts to the charities and church that are close to your heart.
- A will is a gift of reassurance to those who are left behind. Without a will, you may place unnecessary burdens on those who will care for your estate. A will can lower estate settlement costs, reduce estate taxes and streamline probate. It can also help to reduce dissension among potential heirs, since your wishes will be clearly stated. Most of all, it will provide the assurance to your loved ones that they are carrying out your wishes.
How can the Foundation help? Call us to request bequest language to be used in your will and information concerning the Christian Preamble. We would be glad to meet with you to consider the possibilities of how to include a Trust in your will to benefit the church or charity of your choice.
Consider the possibilities.