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A Lasting Legacy Did you know that August is National Make-A-Will Month? For many who have been putting off this important task, I hope this reminder serves as the motivation needed to finally sit down and create a last will and testament. Once begun, many find the process isn’t as long or tedious as anticipated.
Two reasons to write your will:
1.
A will is an important legal document that everyone should have. This powerful document lets you distribute your property and protect your loved ones after you pass.
2.
A will creates peace of mind for you and the people you love. Your final wishes are stated, and heirs have a direction to carry these out.
For those who already have a will in place, a word of friendly advice: take 15 minutes to look over your existing will and make sure it’s up to date with your current preferences. Estate attorneys recommend reviewing your will every three to five years. You may also consider taking a few extra minutes to make sure you’ve named
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ScottishRiteNMJ.org
by Walt Wheeler, 33˚, Director of Charities
beneficiaries of your non-probate assets, such as your life insurance policies and/or retirement accounts. You can even name a charity as a beneficiary of your assets as a meaningful way to leave a lasting impact on the philanthropic work near and dear to your heart. As much as we try, none of us live forever. Yet 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.
Your gift can be in the form of: • A cash sum; • A particular property or asset; • A share, or the whole, of your residuary estate (what’s left after other specified gifts, costs, and tax).
The Northern Light
