Regardless of your life circumstances or estate size, your will is perhaps the most important document you will create. It expresses your values and also effectively provides for the people and charitable causes important to you. If you have been putting it off, here are seven important reminders why you need a will:
- Without a will, your state’s laws, not you, determine how, when and to whom your property is distributed.
- You can reduce (or maybe even eliminate) future estate taxes.
- You can name an executor (a person, bank or trust company you choose to personally represent you) to manage and settle your estate.
- You can designate beneficiaries for meaningful items such as heirlooms, art, jewelry or real estate.
- You can support charitable causes, such as Texas Parks and Wildlife Foundation, through a bequest, which is simple, flexible and revocable at any time.
- You can name a guardian for dependents under your care.
Texas Parks and Wildlife Foundation can provide gift planning information to you and your professional advisors at no cost or obligation. Simply contact Cynthia Olson at 214.720.1478 or colson@tpwf.org. If you do include us in your will, please let us know so we ensure that your gift is used as you intend.
Important Reminder
If you already have a will, make sure it’s up-to-date. Life changes such as grown children; births, deaths or marriages; increased estate value; or a move to another state may all be reasons to review your will.
This information is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
