FOUNDATION NEWS Caring for the Ministry of Grace: "Ecclesia Perpetua" September 2010 | |||||
|
|||||
Dying without a Will | |||||
Abraham Lincoln died without one. So did Presidents Andrew Johnson, Ulysses S. Grant, and James A. Garfield. All went to their graves without writing a will, the granddaddy of all mistakes in estate planning. And the need for a will has grown even more important as we live longer and perhaps become more affluent. Still, seven out of ten Americans die without a will.
Even for someone with moderate assets, an updated, valid, and properly written will is a necessity. It should designate who will administer the estate and see that debts are paid and assets distributed as per your wishes. When people draw up their own will or use standard forms, mistakes can make |
them invalid. One example would be having beneficiaries like your heirs witness the signature instead of disinterested parties.
If you have moved from another state, you should have your will reviewed by a lawyer in Oregon. Some people die with a valid will but leave their family scrambling to find vital documents. Asking your parents where the key to their safety deposit box is kept can seem like an invasion of privacy. The same applies to asking them where their stocks are held. But these are important questions. | ||||
| |||||
| |||||
Getting around to writing or updating a will is one of those things that seems to always wind up at the bottom of our "to do" list. We do not want to stop what we are doing to spend time contemplating our demise and making decisions about the distribution of the financial blessings that we have. We know it is important to be a good steward who has an up-to-date will but we keep putting it off for a more convenient time.
Sometimes, however, we get a nudge that makes us act. Like the woman who made a call, she had decided last year that her will was not what she wanted. She had planned to get it changed but there were so many other things for her to do. She finally made the call because she had had two heart attacks in two weeks. A very BIG nudge! |
Lawyers say that when someone calls saying they need to get their will done quickly, the first thought is "I wonder where they are flying off to." A long journey motivates people into getting their "house in order." Sometimes it is the death of a friend or family member who did not have a will that makes us act. Watching the added grief of the family trying to figure out what and where is very troubling.
Good stewardship would be to take care for your will now when you are not facing an emotional reaction to the death of a loved one, a trip deadline, or even the unsettling news of a physical problem. It is so much better to write or update your will when you have the time and mental quietness to concentrate on making sound decisions regarding your estate ... when you can do it calmly. |
| ||||||||||||||||
Easy as ABC
Assets - Beneficiaries - Confidants - While creating a will is easier than you might have thought, it will take some time. The end result will bring a sense of peace.
Director of Planned Giving for the articles contained in this newsletter. |