Kent-area residents know how important it is to support their favorite charities and to give to others. For many people it is important to continue this giving into their estate administration. Many people wonder how they can incorporate important faith and values into an estate plan?
For many people giving away money to favorite charities or religious organizations is an important part of their estate plan. One way to incorporate faith and values you find to be important into your estate plan is to leave a dollar amount or percentage of the estate to specific charities. Or you can establish a trust to provide income to charities for a long time.
You can also distribute assets to your heirs by stipulating what the assets can pay for. For example, the money can be used for education only, or whatever is important to you. You can also limit the amount of the distribution for younger heirs in order to ensure that they do not rely on the money and instead have to work.
Faith and values also can be present in the way you want to be cared for if you have a terminal illness, if you are placed in a nursing residence, find yourself in a permanent vegetative state or how you feel about organ donation. These end-of-life decisions are deeply personal and it is important to make sure that your wishes regarding these issues are known and that a person is appointed to make sure your wishes are carried out. A legal professional skilled in estate planning can help a person incorporate their faith and values into an estate plan.
Source: greenbaypressgazette.com, "Ways to incorporate faith, values into your estate plan," Carissa Giebel, Dec. 29, 2014