‘Tis the season and a reminder about how you can give the ultimate gift to loved ones now and in the future.
70% of Americans don’t have an updated will (that’s a lot of people)! And as we near the end of 2023, this marks a good time to set a resolution to get your financial plans in order.
To avoid heartache, unnecessary stress and confusion, here are a couple of tips for making sure the people and causes you care about most are taken care:
Life changes, so do your plans. If you don’t have an up-to-date will, consider using online will to save you time and money – We get it, life happens fast and things change…it’s inevitable! Having an up-to-date Last Will & Testament and other estate planning documents like an Advance Healthcare Directive and Financial Power of Attorney are all valuable tools to ensure you are in charge of end-of-life decisions. Whether your kids are out of the house, you recently got married or divorced, or you simply haven’t had time to update, consider using LifeLegacy online estate planning tools. As part of the season of giving, we’re offering our tools for free until January 15th.
Identify beneficiaries on your life insurance, investments, savings and other financial accounts – These accounts are not usually mentioned in a Last will & Testament, because they offer beneficiary designations that bypass probate and are quickly distributed. You can identify the family members, friends and organizations that will receive the proceeds from these accounts when you pass away. As life changes, so may your wishes. Make sure these designations are up to date and thorough.
Here’s to ending the year in a better, more organized place. The peace of mind that comes from financial organization is priceless! And LifeLegacy makes it easy so your legacy can live on forever. Happy New Year!
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If you need a single, compelling reason to prioritize planned giving this year, here it is: around 46 billion dollars flows to charities every year through bequests. In fact, the latest Giving USA numbers show that bequests in 2024 totaled about $45.84 billion—roughly 8% of all U.S. charitable giving for the year. That’s not a rounding error; it’s a transformative funding stream your mission can’t afford to ignore.
One of the most interesting parts of planned giving is that you never know what is going to happen! Planned gifts will surprise you. In an earlier blog, I talked about the planned gift that I DIDN’T accept. That was not even close to the most interesting gift that I ever received.
And this one isn’t either. But it was something I never expected.
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