It’s imperative to make sure your affairs are in order. If you don’t, someone else surely will. Therefore, no matter your financial worth, having an estate plan is vital in ensuring your assets are properly cared for—with your goals in mind.
A basic estate plan includes a will, a power of attorney, and a living will or health-care proxy. Likewise, don’t neglect to take stock of assets such as retirement savings, insurance policies, and other personal investments. Whom do you trust to handle your finances? Who will receive your inheritance? Whom will you confide in to make important medical decisions regarding your care? Now is the time to establish a plan to protect the interests of both you and your loved ones. Don’t leave your future to chance. Make sure your plan is in place and you’ve discussed it with those most important to you.
Whatever the beginning point—a birthday, an anniversary, or a weekend at the cottage—pick a date and have the talk. Share with your loved ones your hopes and concerns for your future and encourage them to join you on your unique decision-making journey. Read below to get started and protect your estate from costly court fees and unnecessary state taxes.
When planning your estate, consider the financial benefits of planned giving. It gives you the opportunity to make charitable gifts now or after your lifetime.
Planned gifts are sometimes referred to as "stop-and-think" gifts because they require some planning and, often, help from your professional advisors. Unlike cash donations, they are typically made from assets in your estate rather than disposable income, and come to fruition upon your death.
The most common planned gift is to make a bequest in your will or living trust. Other planned gifts include:
All donors who make Presbyterian Senior Living aware of their intentions to make a planned gift may become a member of one of our Legacy Clubs. Our Legacy Clubs include: