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In today's complicated
society, it is refreshing to know that a simple will is often a very effective
way to plan for one's financial future. Yet, 70% of those who die each
year in the U.S. die without a valid will. Most simply waited too long
to act. If you do anything for yourself sand your loved ones this year,
be sure to make a will or update the one you have.
Consider these
most frequently asked questions about a will.
- What happens if I die without a will? Your state's laws
of descent and distribution will take over. Even if your family knows
your wishes, they can not make any distribution by law.
- Isn't my estate too small for a will? No. If you own anything
at all, you may still wish to give certain possessions to certain
people or to make a charitable bequest to Hillcrest, your church or
another organization. No matter what size the estate, a will can conserve
assets for your loved ones or the causes you care about. A will can
speed estate settlements and avoid more expense.
- Does joint ownership make a will unnecessary? No. What if
you and your spouse should die together in an accident? Spouses absolutely
should have separate wills.
- Do I need a will if I don't have dependents.? Yes. Even
without them, you have the opportunity to give thought to how your
estate is distributed instead of the state deciding your personal
wishes.
- Does it cost a lot to have an attorney draft my will? No.
A simple will is relatively inexpensive and is a good investment to
conserve or properly direct your estate. Ask your attorney for an
estimate.
- If I have a will, can I change it? Yes. Wills need periodic
reviews and sometimes alterations because circumstances do change.
A simple addition or change, called a codicil, is all that is needed.
- Aren't charitable bequests usually large amounts? No. Bequests
come in all sizes - there is no minimum amount. Any assets passing
to a qualified charity after your lifetime pass tax-free.
- How can I provide for Hillcrest and other charities in my will?
There are four ways. A charity can be named to receive a bequest for
a specific amount, a percentage, a specific asset, or the remainder,
if any, after all other considerations have been satisfied.
If you wish to
make a gift to Hillcrest Family Services, you can ensure that your gift
will be distributed as you intended by using the following language which
incorporates Hillcrest's legal name. You may also need our taxpayer identification
number - 42-0680411. Always consult an attorney in executing your will
to make sure that it is legal and properly witnessed, and that it truly
represents your true intent.
I give, devise and bequeth to HILLCREST FAMILY SERVICES OF DUBUQUE,
IOWA,
- $__________from my estate.
- _______% of my estate.
- (describe asset, such as stocks and bonds, personal property,
estate) from my estate.
- the rest, residue and remainder of my estate.
If you have other
questions about making a will or you would like a free copy of Your
Guide to a Christian Will, please call , Director of Development,
at 563-583-7357, toll free at 877-437-6333, or click
here. It is recommended
that you check with your lawyer, estate planner or financial advisors.
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