August is National Make a Will Month, an annual observance that encourages people to create or update their legal wills. While making a will may feel like something to put off until later, having a clear plan in place can provide peace of mind for you and your loved ones and ensure that the things you care about are reflected in your legacy.
Why Make a Will?
A will is more than a legal document. It is an opportunity to make your wishes clear and provide direction for the people who will be responsible for carrying them out.
A will can help you:
- Protect your loved ones by providing clear instructions for the distribution of your estate.
- Maintain control over your finances, assets, and property by deciding who will receive them.
- Support the causes you care about by including charitable gifts or legacy donations in your estate plan.
- Provide clarity for your executor and make the process of settling your estate as straightforward as possible.
One common misconception is that you only need a will if you have significant wealth. Another is that creating a will is something to consider later in life. In reality, anyone over the age of 18 can create a will, and everyone can benefit from having one, regardless of their net worth.
Even when an estate is relatively modest, having a clear plan can provide peace of mind and reduce uncertainty for the people responsible for carrying out your wishes.
Your Will Can Be Part of Your Legacy
For many people, estate planning is also an opportunity to think about the values and causes they want to carry forward.
A legacy gift, also known as a planned gift or charitable bequest, is a gift designated to a charitable organization through your will or other estate-planning arrangements. These gifts can be especially meaningful because they allow you to support a cause that reflects what mattered to you during your lifetime.
A legacy gift might allow you to make a larger contribution than you would have been able to make during your lifetime, while potentially offering financial or tax benefits depending on your circumstances and the type of gift.
At its heart, a legacy gift can say:
“This is what mattered to me. I want to be remembered in this way.”
Use August to Start the Conversation
National Make a Will Month is a helpful reminder to set aside time to outline your wishes and consider the impact you want to have beyond your lifetime.
As you create or update your will, consider:
- Who should receive your property and assets?
- Who will be responsible for carrying out your wishes?
- Are there charitable organizations or causes you would like to support?
- What kind of legacy would you like to leave?
- Are there important documents or details your executor will need?
There are also resources designed to make the process easier. Some free or low-cost software offers tools, checklists, and reminders to help you organize the information and paperwork you may need as you create your will.
Creating a will doesn’t have to be complicated. Taking the first step now can make it easier to put a thoughtful, clear plan in place.
Consider Including DUG in Your Legacy
If supporting DUG is part of your legacy, you can easily notify us of your intention to include a gift to DUG in your estate plans through our legacy giving form: https://dug.tfaforms.net/f/legacy-giving
Whether your gift is large or small, a legacy gift can help sustain the work and values you care about for years to come.
Have questions or want to explore other ways to give? Reach out to us at [email protected]
