August is Make-a-Will Month!
Did you know that August is National Make-a-Will Month? Whether your estate plans are all set, or you’re among the majority of Americans who don’t have a will at all, these slower paced days of summer might just be the perfect time to consider your own lasting legacy.
Maybe you think you’re not wealthy or old enough to need a will. In fact, everyone should have one. Without a will to determine your wishes, the State and the courts will make those choices for you. Putting yourself in the driver’s seat ensures that your belongings and assets go to the people and causes you care about.
It’s never too late to put your financial affairs in order, according to AARP project adviser and author, Sally Hurme. In her book, The ABA Checklist for Family Heirs: A Guide to Family History, Financial Plans and Final Wishes, Hurme suggests these three tips to help get you started:
• Make an inventory of your assets (bank accounts, investments, properties, jewelry, art collections, and other personal items)
• Review whom you’ve named as beneficiaries of your life insurance, retirement funds or investment accounts – naming your favorite charity as a beneficiary can be a great way to make a meaningful gift to causes you care about!
• If you’ve already drafted a plan, look it over every few years to make sure the executors are still the people you trust and are up to the task, and that your will still matches your current wishes.
If your finances are relatively simple, web-based legal document services such as LegalZoom.com are an inexpensive and quick way to complete your will. Otherwise, an attorney can draw up a will for you.
Next time: 5 Ways to Leave a Lasting Legacy through your Estate Plan
For more information about including UMRC Foundation in your will, making a planned gift, or becoming a member of the Wesley Legacy Society, contact Shane Williamson at the UMRC Foundation office at 734-433-1000 ext. 7397.