Wills & Bequests

In a large national survey of those who reported they had included a charity in their Will, 43 percent were younger than 55 years old. Forty-nine is the average age at which a charitable bequest is first included in a Will or estate plan. A Will is much more than a legal document. It is an opportunity to responsibly provide for the security of your loved ones and it can be a lasting legacy of your commitment to your community.

If the client’s estate could potentially owe federal estate taxes, a detailed discussion with a professional advisor regarding ways to eliminate or reduce those taxes should ensue.

For example:  A financial planner may ask two quick questions at the bottom of his customer’s financial statement forms:

“Do you have a Will?  Yes / No.”

“If yes, when was it last updated? ______.” 

A financial planner may ask these simple questions to lead to a good discussion about the value of estate planning and sometimes about local charitable giving ideas. Busy people put off making these important decisions.

Please take time to determine how you want your assets to be distributed at your death, and have your attorney put it in writing.