Planning For Your Future
While it’s impossible to know or control what happens in the future, you can have security about achieving your ultimate goals by making a plan.
Planning is one way to create a secure future for you and your loved ones. With a good plan, you can rest easy knowing your family will be well cared for and your property will pass to your intended beneficiaries.
What are some options for planning my future?
A Will — A will is a written document that permits you to state how you want your property or estate distributed, name an Executor (also called a Personal Representative) to distribute your property, pay debts and taxes, and handle other business affairs to settle your estate.
Living Trust— If you own property, you may wish to set up a living trust. A living trust may be set up during life and directs where your assets go. Unlike a will, a trust will not subject your estate to probate, which is often a lengthy and costly process that requires a court to settle your estate.
What other considerations need to be made?
Who will be guardian of my dependent children? It is important to appoint a guardian who would take physical custody of them in the event of your death.
Who will have the power to manage my finances?
If you are no longer able to manage your property or later wish to have someone else manage your property, a durable power of attorney will give the person you select the legal authority to buy, sell, and manage your property.
Who will make my healthcare decisions?
A durable power of attorney for healthcare allows you to select a person who can assist your doctors in making healthcare decisions if you become unable to act on your own behalf.
Making a Bequest to the June E. Nylen Cancer Center
In making plans for the future, beyond thinking about how to help your family and save on estate taxes, you may also be considering how to support charitable organizations such as the June E. Nylen Cancer Center.
A bequest, one of the easiest gifts to make, permits you to leave a lasting legacy and often provides valuable tax savings. A gift of an IRA or 401(k) plan can usually be done using a beneficiary designation form from your plan administrator.
For information on including the June E. Nylen Cancer Center in your estate planning, please contact Robin DeVries, interim Director of Fund Development & Marketing, at 712.252.9444 or firstname.lastname@example.org.