Why Do You Need A Will?

REGARDLESS OF YOUR LIFE CIRCUMSTANCES or estate size, your Will is perhaps the single most important document you will create. A thoughtfully crafted Will expresses your wishes and values. It also effectively provides for the people and charitable causes that are important to you.

Considerations When Making Your Will

1. Without a Will, your state?s laws?not you? determine how, when and to whom your property is distributed.
2. You can reduce (or perhaps even eliminate) estate taxes and save taxes in a survivor?s estate if you make use of the estate tax exemptions.
3. You can name your executor to manage and settle your estate.
4. You can specifically designate beneficiaries for items while you are alive.
5. You may create trusts to provide for your spouse, children and others.
6. Through a pourover Will you can transfer additional assets to your living trust.
7. You can support CHOC through a bequest, which is simple, flexible and estate tax-deductible.
8. With a Will, you can designate the guardian for your dependents.

CHOC can help provide gift planning information to you and your professional advisors at no cost or obligation.

Update Your Will When:

• Tax laws change
• You move to another state
• Your marital status changes
• Your executor can no longer serve
• You want to change guardians
• Your financial status changes
• Your heirs need to be changed
• You inherit property
• Your charitable interests change