Fewer than half of American adults have a will. Act today to provide for and protect your family first, and then provide for charity.
The good news is that you can provide for the people and causes most important to you by taking simple steps now. Creating your plan for the future can be easy and enjoyable and can be customized to meet your personal and charitable goals.
While an attorney should always draft your will, we can help demystify the process and prepare you for meeting with your attorney with these simple steps.
- Itemize your assets
Take a piece of paper and draw a line down the middle. On the left side, write something you own. On the right side, write the name or names of the person(s) you wish to receive that item or asset.
- Organize your estate
Make the process of organizing your estate and plans even easier by requesting our free wills guide. This fill-in-the-blank guide walks you through the process of gathering information about what you own, your family, and your goals.
- Write down questions
Consider practical questions, such as, “If I give my house to my adult son and my adult daughter, what will they do with it? If you come up with a question that you can’t seem to find a solution for, make a note to ask your attorney.
- Review your plans for family
You can give some assets to family members right away and to others over time. Ask us how you can provide an income stream or a lump sum to a loved one and achieve your personal and inheritance goals.
- Consider charity
Remember to include any charities that are important to you in your plan. If you have given during life, then consider providing for these organizations through your estate. Ask us about plans like charitable remainder trusts and gift annuities that can help your family and Michigan Tech later.
- Visit your attorney
Bring the information you have gathered and questions to your estate planning attorney. Your attorney can draft a will or trust that will achieve your goals. You complete the plan through a simple signing process. Learn more about how to find an estate planning attorney.
- Update your plan
Update your estate plan as your financial situation, taxes, and life changes. Marriages, births, and deaths are all events that may make you want you to revise your plans.
Now is the perfect time to get started on your estate plan. Many of the documents you have gathered to file your income tax return may be useful in reviewing your plan. Please visit our website at mtulegacy.org for free estate planning tools.
Email email@example.com to request our new brochure, Your Guide to Effective Giving After Tax Reform.