With a Will
- • You can direct the distribution of your assets to those you care about most.
• You can choose a personal representative (executor) who will oversee the distribution of your assets.
• You avoid unnecessary expenses on the administration of the estate.
• You can provide appropriately for minor children by naming a guardian or establishing a trust.
• You can provide for family members, friends, or relatives according to their needs.
• You can save considerable estate tax by utilizing proper estate planning techniques.
• You can provide support for charitable causes that have a special meaning for you.
Without a Will
- • State intestacy statutes determine the distribution of your property.
• The court appoints an administrator for you.
• Because the administrator is subject to constant court supervision, the cost of administering the estate may be greater.
• You cannot provide for minors. The court will appoint a guardian for them, and the guardian will make decisions about a child’s care that you should have made.
• Your heirs will benefit equally by class not necessarily in the proportions you would have intended.
• Your estate may lose thousands of dollars in needless taxes because you did not take advantage of the tax-saving opportunities available to you.
• You cannot support a charitable cause.
Some of the reasons people use for not having a will include:
"I don't have much property."
Source: Excerpted with permission from The Complete Guide to Planned Giving by Debra Ashton, pages 273-4, copyright 2004, Ashton Associates, Quincy, MA 02169 www.debraashton.com
For more information or a confidential discussion of your charitable options, please email or call the Development Director, John McArdle, at (541) 917-4210 or Jim Birken, Planned Giving Manager, at (541) 917-4254.
We Look Forward to Hearing From You!