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Giving through bequest is an excellent way to have a major impact on Seattle Pacific University without affecting your current assets. A bequest also makes a lasting public statement about the things that matter most to you. These goals can be accomplished without overlooking the needs of your survivors. Yet even if you have no plans to support any charitable causes in your estate plans, you should have a will.
Will Your Will Be Done?
A will is more than a tool for dispersing your estate. It is a way to protect the interests of your loved ones and the causes you support. It allows you to make one final statement about what you personally value.
Though an obviously valuable document, only 30 percent of the Americans who die each year leave a will. And many of those wills are defective. Others simply assumed they did not need a will.
But the truth is, a will should be the cornerstone of your overall financial plan. Here's why:
- If you die without a valid will, your estate will be dispersed by the state. Your personal interests and charitable desires will be ignored, and a stranger may be named administrator of your estate.
- A will can protect the bereaved from the added stress of managing financial affairs. If your spouse is unaccustomed to dealing with insurance proceeds and other assets, a trust could be established to make things easier.
- A will can help you express your love to others. When a person dies without a will, those left behind must sort out the estate and make difficult decisions. Uncertainties and disagreements develop that compound the grieving process. Through a will, you can help them through that painful time.
- A will can conserve your assets so that more is available to meet your objectives. A will not only reduces administrative costs of probate, but it can reduce or even eliminate estate taxes. No estate is too small to benefit from a will.
- A will provides peace of mind. You can relax, knowing that your temporal affairs are in order. You have cared for the persons and concerns closest to your heart.
Protecting Your Family
If your children are still financially dependent, you may opt for a conditional bequest to Seattle Pacific. For instance, you may want assets to pass to SPU only after your children have died. Or you may want to support your loved ones for a specific period of time, after which the funds would pass to Seattle Pacific. The University's planned giving specialists can explain the options to you.
Help Is Available
Do you need help getting a will made? SPU's Office of Planned Giving can get you started. If you want, a wills specialist can visit you or provide a list of lawyers who specialize in drafting wills. Simply write or call the Office of Planned Giving, Seattle Pacific University, Seattle, Washington 98119. The number to call is (206) 281-2702.
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