Good Things Happen When You Make a Will

Are you putting off making your will -- or updating an old will? You are not alone. Many of us do just that.

Why? Because we don't like to think about our own mortality; we delude ourselves into believing there will always be time. Or, perhaps we haven't made up our minds about how we want things divided. Some of us assume our assets will automatically pass to our natural heirs just as we might prefer.

Whatever the reason, procrastination exposes your family and property to serious risks.

Dangers of Having No Will -- or an Old Will
If you leave this world without a will (intestate), your assets will be distributed according to state law. Your wishes won't matter.

The result can be quite different from what you might have wanted. Instead of providing for the family members you would have liked to have helped most, the law will distribute your estate for you. Your estate will be divided among your relatives according to a rigid, unchangeable legal formula. Nothing will go to the friends or charitable institutions, like your favorite charitable organizations, that you cherish.

An old will can be almost as bad as no will. Each new year brings changes that affect the lives of your family and the nature and value of your property. A birth, marriage, divorce, death or a change in your financial circumstances can make a big difference in your plans. Your will also can become outmoded because of a substantial inheritance, a new home or business or the sale or gift of an important asset. Changes in the tax law occur almost annually, which may also have a serious impact on your estate plan.

How to Make Good Things Happen
What happens when you make a will?

First, you ensure the wisest and most productive use of your money for the benefit of those individuals and institutions you care about.

Look at the many good things your will can do.

• You can direct the division of your property the way you choose, not the way the state decides.
• You can make special financial arrangements for family members who are minors, disabled or unfamiliar with money management.
• You can provide vitally needed support for your favorite charitable institutions, like your favorite charitable organizations, and gain recognition for your benevolent concern.
• You can select an executor (personal representative) who is well qualified to settle your estate promptly and economically, with careful attention to your wishes.
• You can devise an estate plan, with the help of a qualified attorney and other advisors, to minimize the taxes on your estate.
• You can (if needed) name a proper guardian for your minor children.

Most of all, with a current will you can make sure your estate will be given to individuals you care about; this careful planning can help you avoid family misunderstandings.

Make Good Things Happen
Think of making a will as a rewarding task, an opportunity to benefit others in a creative manner after your lifetime.

To make sure your will accomplishes all you intend, seek the help of an attorney who specializes in estate planning. We can help you choose a gift to charitable nonprofits that best satisfies both your wishes and our needs.

Please contact Mary Ludwig, Development Director at 712-732-5127, for more information.

The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional.

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