August is National Make-A-Will Month.
And United Way of Larimer County’s Planned Giving Page is here to help. If you have not yet written a will, here are a few reasons a will so important to you and your legacy. Thanks to our partners at FreeWill for this reminder.
1. It’s an important legal document that everyone should have.
All adults should have a will — it’s a powerful document that lets you distribute your property and protect your loved ones after you pass away. One-third of all American adults have a will, and that number is growing every day. If you haven’t gotten around to writing or updating your will — for whatever reason — now is a great time to join the movement.
2. It provides peace of mind to you and your family.
You may not think you own a lot, but you likely have more property than you realize. If you don’t have a will, your loved ones will be tasked with finding a home for this property when you pass on. Creating a will prevents family conflict, eliminates confusion, and ensures your assets go to the people you most want to have them. It also gives your family guidance and reassurance that they can fulfill your wishes during what is likely a very difficult time for them.
With a will, you can also plan for those who are in your care — for example, you can name a legal guardian for your minor children and choose who should care for your pets.
The logistical benefits of having a will are important. But above all else, having a will creates peace of mind for you and the people you love.
3. It lets you create a legacy that lasts beyond your lifetime.
There are ways to continue making a positive impact on this world long after you leave it. One of these ways is by donating to a charity in your will.
There are many different ways you can use your will to benefit a charity — you can give cash, stock, real estate property, and more. Leaving a gift for a nonprofit ensures that you can make a positive impact on causes close to your heart for years to come.
Already made your will?
Estate attorneys recommend reviewing your will every 3-5 years or whenever you have a big life event (like getting married, moving states, or having a grandchild). Consider taking 15 minutes to look over your will and make sure it’s up to date with your current preferences. Your life and relationships change over time — it’s important that your will reflects those changes, too.
You may also consider taking a few extra minutes to make sure you’ve named beneficiaries of your non-probate assets, like your life insurance policies or retirement accounts. You can name a charity as a beneficiary of these assets as another great way to leave a lasting impact.