No matter how organized we are about our schedules and commitments, it can be helpful to have the occasional reminder about something we’ve meant to do. Perhaps that’s why the powers that be have designated August National Make-a-Will Month.
Your One Financial Services team wants to emphasize that your last will and testament is a powerful tool for the distribution of your assets to provide for the welfare of your family and loved ones. A will not only honors your wishes, it also reflects your values.
Your will is one of the most important and personal documents in your entire life, and nearly two-thirds of Americans don’t have one. Without it, you have no control over how your affairs will be handled once you are gone.
One of the first steps you will want to take is to choose an executor. This should be someone who has organizational skills, can handle the paperwork, and who you trust to carry out your wishes. You’ll find additional information about deciding on an executor at the One Financial Services website, https://www.onefinancialservices.com/resource-center/estate/and-the-executor-is
Having your wishes clearly documented and in the hands of a capable executor is a loving gesture for your family. Such advance planning can help to prevent conflicts, provide guardians for your minor children, and even care for your pets.
A will also provides you with the opportunity to leave a legacy and to have an impact on the causes you care about by donating to a charity. There are multiple ways to accomplish this goal. You can give cash, stock, real estate, and other property. A bequest that benefits a charity will be a remembrance of you years after you are gone.
If you are a member of the one-third of the population who does have a will, and in honor of Make a Will Month, ask yourself when is the last time you reviewed or updated that will? If it’s been more than three to five years, you’ve likely had life changes that impact how accurately that document represents your current situation. Have you gotten married, divorced, had a child, gotten promoted, bought property, or become a caregiver? All of these events likely necessitate a change to your last will and testament.
Creating a will, or updating it, is about peace of mind and personal empowerment. It’s about knowing you’ve done your utmost to provide for and protect those you love.
At One Financial Services, we understand the importance of personal empowerment. Our team of professional financial advisors is here to help guide you in building a secure future for you and your family.