August is National Make a Will Month, a dedicated time to encourage everyone to consider the importance of having an up-to-date will or other estate plan. Whether you already have a will or need to create one, now is the perfect time to take action.
The Importance of Having a Will
Having a will is crucial for many reasons:
- Avoid Confusion and Conflict: A will provides clear instructions for your loved ones, helping to avoid confusion and potential conflicts over your final arrangements.
- Protect Your Wishes: It ensures that your assets and property are distributed according to your wishes, rather than being determined by state laws.
- Care for Minor Children: If you have minor children, a will allows you to designate a guardian for them, ensuring they are cared for by someone you trust.
- Supporting your church and other charities you care about: You can specify charitable donations you wish to make as part of your legacy.
- Tax Benefits: Proper estate planning can help control applicable taxes, potentially saving your heirs money.
What is a Will?
A will, or last will and testament, is a legal document that outlines how you want your assets to be distributed after you die. It can also specify who will care for your minor children, how debts should be paid, and more. A will is an important part of estate planning and can help ensure your wishes are followed and conflicts among your heirs are avoided.
Why People Avoid Making a Will
Many people prefer not to think about death, which is why a significant number die without a written will. According to a recent study, over 60% of Americans do not have a will or other estate plan This can lead to unnecessary turmoil and delay in settling their estate, as well as confusion and potential conflicts among surviving family members.
Encouragement from the Book of Common Prayer
Even the Book of Common Prayer addresses the importance of making a will. On page 445, it reads: “The minister of the congregation is directed to instruct the people, from time to time, about the duty of Christian parents to make prudent provision for the well-being of their families, and of all persons to make wills while they are in health, arranging for the disposal of their temporal goods, not neglecting, if they are able, to leave bequests for religious and charitable uses.”
Take the Next Step: Plan Your Will Today
August is the perfect time to prioritize your estate planning. Whether you need to review and update an existing will or create a new one, taking these steps ensures that your wishes are honored and your loved ones are protected.
Get Started with Our Free Brochure
To assist you in this important process, our office offers a helpful brochure, “When There’s a Will, There’s a Way,” developed by the Episcopal Church Foundation. This brochure provides valuable information on the benefits of having a will and guides you through the steps to create one.
Click here if you’d like a copy sent to you.
Don’t wait. Take action this August during National Make a Will Month to get your affairs in order and provide peace of mind for yourself and your loved ones.
