Regardless of age or net worth, making or updating a will is one of the smartest and easiest steps an individual can do to plan for their family's future.
Without an up-to-date will, a person gives up the right to distribute his or her estate to family, friends and favorite charitable organizations in the manner they choose. If a person dies without a will, state laws determine how property will be distributed. Are you willing to bet everything you own that these laws will match your wishes?
At least six important provisions can be made in a will:
- Bequests. You cannot leave anything to anyone outside your family without a will (or contract).
- Charitable Gifts. You may wish to play a continuing role in the work of Sharp HealthCare. You may leave a specific dollar amount, a percentage or the residue of your estate to Coronado Hospital Foundation, Grossmont Hospital Foundation or Sharp HealthCare Foundation.
- Dependents. You avoid distributing property through a trust to someone who isn't qualified or comfortable in managing large sums of money, such as a child or elderly relative.
- Distributions. You determine what becomes of your assets, which family members receive what and in what proportions.
- Memorials. You can pay special tribute to a loved one by perpetuating his or her personal dedication to the ideals represented by a particular charity.
- Personal Representative. Without a will, the court will name an estate administrator and approve a fee for his/her services. With a will, you determine who will settle your affairs.
For More Information
To learn more about planned giving, please call Norm Timmins at 619-740-4315 or send us an email.