Wills & Bequests
Many people, especially young individuals and those who feel that their estate is too small, believe that a will represents an unnecessary expense. But you need a plan for the future, and the preparation of a will need not be expensive.
Even if you don’t own a lot of property, a will is needed to make other important decisions:
- Naming an executor
- Naming a legal guardian for minors
- Making gifts or transfers
- Reducing estate tax liability
In the absence of a will, the state will resort to a formula. A judge will name an executor; a bond may have to be posted; the court will name a guardian; and a formula will determine asset distribution.
The Charitable Bequest
The charitable bequest is one of the best ways for you to express your specific philanthropic goals. In fact, the bequest is the most frequently utilized method to support charity in America.
Here are some options for your bequest to charity:
- A specific dollar amount
- A percentage of the estate
- Specific assets
Your gift is important to us! While many may think philanthropy is reserved for a select few, the truth is that every bequest to this organization helps us continue our work.