Estate Planning Awareness

An estate plan, also known as a last will and testament, is a legal document that outlines your wishes regarding the distribution of your assets, the care of any minor children, and the making of charitable donations after you pass away.

An absence of a will can mean accidentally disinheriting those you love and the causes that are special to you. Without an estate plan, depending on your state’s intestate succession laws, you essentially surrender control of your assets and the care of your children and medical decisions made on your behalf. This places a tremendous burden on your loved ones during a difficult time. Often the courts will intervene to determine who gets your property, which is typically a long and costly process. It is important to give yourself and your family the comfort of knowing your personal affairs, including
medical decisions and final wishes, are in order.

There are many benefits of creating an estate plan:

• You can avoid or limit taxes for your heirs.
• You can include healthcare and end-of-life instructions so if you cannot speak for yourself, others will clearly know your wishes.
• You can appoint a guardian to care for your minor children.
• You can live every day knowing the good works you do today with continue tomorrow through your favorite charities.

It doesn’t have to be! The good news is that protecting your loved ones and creating your legacy is easier than you think. Creating a plan is less about form and procedure and more about considering all the people and charities that are important to you. In fact, a well-written will can be just a couple of pages long. In addition to unparalleled peace of mind, creating your plan provides advantages that begin now and continue forever.

Check out one of our virtual estate planning seminars on Thursday, October 19 to more information on the planning process: https://philanthrocorp.com/zoomreg/bocs/.

No! Wills are an important part of financial planning for people from all financial situations. Do you have a retirement account such as a 401(k) or 401(b) through your employer? That’s an asset! Do you own or have equity in your home? That’s an asset! Do you have a life insurance policy? That’s an asset! Even if you aren’t a high-earning individual, your loved ones still may be entitled to certain benefits or assets when you die.

No! Wills are important for adults of all ages, especially if you have minor children. A will gives you the opportunity to nominate individual(s) that you want to care for your children in the event that you and the other parent die. Without a will, your preferred choice of caretaker may not be granted guardianship of your minor children.

In additional to financial directives, you can also include healthcare and end-of-life instructions in your will. Unfortunately, adults of all ages experience unexpected health emergencies or tragic accidents; a will gives your loved ones clear direction on your wishes when it comes to medical and end-of-life decisions.

You can get started by visiting our planned giving website, BishopOGLegacy.org, for a wealth of information regarding wills and estate planning. Downloading our FREE estate-planning guide can also assist you as you begin to plan.

You may want to seek out trustworthy resources through an estate planner or attorney. If you don’t have an estate planner or attorney, you can find a listing in our Connections Business Directory.

You can also join us for of two FREE virtual estate-planning seminars on Thursday, October 19 at 12 pm and 7 pm. These no-obligation seminars will feature representatives from PhilanthroCorp, a nationally recognized Christian will and estate-planning firm. We’ll be talking more about the estate planning process and how to get started. Register for one of the online seminars.

Can’t make it to a seminar? You can register for a FREE one-on-one consultation with PhilanthroCorp.

PhilanthroCorp is a Christian-based organization and has been helping families with their wills and estate plans for decades. As an appreciation for your support of our ministries, the Bishop O’Gorman Catholic Schools Foundation has partnered with PhilanthroCorp to provide their services to you as a gift without cost or obligation. If you choose to move forward to work with PhilanthroCorp, your only costs are the fees an attorney charges to draft the documents to put your plans in place. If you don’t have an attorney, PhilanthroCorp can refer you to a Christian attorney in your area who will draft your documents at greatly reduced rates. You can also find a local attorney in our Connections Business Directory.

PhilanthroCorp provides an easy step-by-step process to design and implement a customized plan from a Christian perspective that reflects your values and gives you peace of mind. Your plans remain completely confidential. Best of all, this can be done over the phone from the comfort and convenience of your own home!