Did you know that most people die without a will, or the existing will is rendered invalid by another event in the person’s life? More than one of every two Americans die without a will, causing many millions of dollars to be piled up in probate court every week. Your review of your present will (or the making of your first will) may be the most important action you take this year.
Remember, wills are for everyone, not just those who are wealthy. If you don’t have a will, consider attending the seminar provided by our planned giving committee. If you already have a will, make sure it reflects your current wishes.
In anticipation, the committee would like to offer the following information for all of our parishioners to ponder:
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With a Will
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Without a Will
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V You direct your assets to those you care about the most.
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V The state determines the distribution of your estate.
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V You avoid probate and unnecessary expenses on the administration of the estate.
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V Court appoints an administrator for you.
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V You decide who will be the guardian of your minors.
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V Cost of administering the state may be greater.
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V You save estate taxes by utilizing estate planning techniques.
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V Heirs will benefit equally by class, not as you might prefer.
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V You provide support for charitable causes that have special importance for you.
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V Court will appoint a guardian for minors.
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V Needless taxes will be paid without benefit of available tax-saving opportunities.
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V No gifts will go to charitable causes.
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