FOUNDATION: Best Made Plans

There are many myths surrounding the uncomfortable topic of what happens to our money after we die. Planning for finances after death can cause sweaty palms, make people leave the room and heighten anxiety. Isn’t talking about all of this taboo and confusing? Not anymore.

Estate planning is exactly what its name implies. It’s the creation of a plan to make sure what you want to happen upon your passing does indeed happen. And we’ve got the resources to get you started. First, here are a few myths to dispel:

Myth #1: Only people 65 and older need to have an estate plan.

The truth is, you can start planning for your financial future at any age – and should once you begin to accumulate any assets: a savings account, an IRA, a car, a home. If you are responsible for others in your life, creating your plan is even more important.

Myth #2: Estate planning is only for wealthy people.

Don’t let the word, “estate” fool you. It isn’t about how much money you have. It’s about making sure the money and assets you do have – at any level – go where you want them to go after your passing. Without a plan in place, others may determine where and how your assets are distributed.

Myth #3: Estate planning is complex.

For many, it’s as simple as naming beneficiaries for your bank account, life insurance, IRA or donor advised fund, and preparing a will. Did you know 70 percent of Americans don’t have wills? Of the 51 percent of Canadians who have wills, a third of them are out of date.

After you’ve taken care of those you love in your life, consider including charities you love in your plan too through a planned gift (sometimes known as a legacy gift). The Corinthian Society was established by the Alpha Gamma Delta Foundation to recognize and thank sisters and friends who have included the Foundation in their estate plans and to honor their commitments to continue the mission of the Foundation for generations to come.

Check out the Personal Estate Planning Kit under the Resources tab at alphagammadeltafoundation.mylegacygift.org to get started.

Knowledge is power. Begin your plan today. We invite you to join the 260 sisters and friends who have already joined the Corinthian Society. Call Executive Director Julie Waitman at 317.663.4242 for more information.

Ready to make an immediate impact? Join the Give Every Month Society! Even a monthly gift as little as the cost of one latte can make an impact. Visit alphagammadeltafoundation.org/gem-society to select the amount you would like to give each month by credit card or electronic fund transfer to support the Foundation's mission.