What happens if you do not have a will? The state will provide an estate plan if you do not provide one on your own. Your close relatives will share in your estate, but they may not receive the amount you would have wanted.
Through a properly written will, you can:
- Direct the distribution of your assets to those you care about most.
- Choose who will manage your assets after your death.
- Save on estate taxes by using proper estate planning techniques.
- Make a gift to your favorite charities.
Your bequest may provide for a specific dollar amount in cash, specific securities, specific articles of tangible personal property, or a percentage of the residue of the estate. Bequests may be given as unrestricted or restricted gifts. A restricted bequest supports a certain purpose or program designated by the donor.
If you already have a will, congratulations! You are ahead of most people. But you may need a revision to your will if your personal circumstances have changed.
For any questions you may have on an estate gift, please contact us. We will be glad to help you.