Everyone wants to have a life with meaning. Part of that meaningful life is to live on in the memory of family and friends. A good estate plan can indeed create a legacy for family and charity that gives added meaning to your life.
But another part is to use property the Lord entrusts to your care to lift up those in need. Paul spoke to those in Corinth and said, "Now he who supplies seed to the sower and bread for food will also supply and increase your store of seed and will enlarge the harvest of your righteousness. You will be made rich in every way so that you can be generous on every occasion." (2 Corinthians 9:10-11, NIV)
Your estate is a wonderful opportunity to bless others in need with a portion of your lifetime "increase" in property
What good things happen with an updated will?
With an updated will, you can transfer specific property or assets. In addition, you will be able to direct the residue of your estate. For those with larger estates, there could be substantial estate tax savings. In addition, you know that the executor or personal representative you select (not the one a probate judge chooses) will be managing your property. A good will is able to carry out your plan and save thousands of dollars while transferring property quickly and inexpensively to your loved ones.
What is accidental disinheritance?
Too many times, the "wrong" person or persons end up receiving property. An "accidental disinheritance" occurs if you either have no will or the will doesn’t function properly. Sometimes a will is unclear and the estate goes to distant relatives or is simply paid to CPAs and attorneys who are representing family members fighting over the estate. You can avoid an "accidental disinheritance" by creating a good plan to protect your loved ones.
How do I get started?
We have designed the Planning Your Legacy guide for your benefit. Feel free to take the time to move through the different sections. You may, however, need to come back later and fill in more detailed information. Most of this information you will know or have readily available.
In addition to the explanations within our free guide, we have a wealth of online estate planning information on our website. Feel free to visit our website and learn about wills at www.okumf.org.
Contact David Battles at 800-259-6863 or send an email to firstname.lastname@example.org to get a FREE COPY of the Planning Your Legacy guide.