When’s There’s a Will, There’s a Way: August is National Make-A-Will Month

August is National Make-A-Will month! 

It’s the perfect time to think ahead to care for your family and your future. You may think that only very wealthy individuals and families need a will, but you'd be wrong! Making a will is often viewed as a daunting task, one that many put off for another day. When you make a will, it can provide peace and certainty how your estate will be handled after your death. You can also plan to make a meaningful contribution to the future of Vermont when you include CVOEO in your estate planning.

What is a Will?

A will is a legal document that outlines your wishes regarding the distribution of your assets and the care of any dependents after your death. Here are some compelling reasons why making a will is crucial:

Benefits of Making a Will

Clarity and Control

A will allows you to specify exactly how you want your estate to be distributed. Without a will, the distribution of assets is governed by state laws (intestacy laws), which may not align with your wishes.

Protecting Your Loved Ones

For families, a will is essential for ensuring that loved ones are taken care of financially. You can designate guardians for minor children and make provisions for their upbringing and education.

Minimizing Conflicts

Clear instructions in a will can help minimize potential conflicts among family members after your passing. It reduces uncertainty and provides a legal framework for asset distribution.

Leave a Legacy

Estate planning offers a powerful opportunity to leave a lasting charitable legacy that reflects your values and beliefs. By including charitable gifts in your will or trust, you can support causes and organizations that are meaningful to you, ensuring that your impact continues long after you're gone.

Peace of Mind

Perhaps most importantly, having a will provides peace of mind. It offers reassurance that your wishes will be honored and that your loved ones and favorite charities will be supported when you are no longer able to provide for them.

Getting Started: Making a Will

Making a will does not have to be complicated. Here are a few steps to help you get started:

Take Inventory

Make a list of your assets, including property, investments, savings, and personal belongings.

Consider Your Wishes

Think about how you want your assets to be distributed among your beneficiaries. Also, consider who you would like to appoint as guardians for any minor children.

Consult a Professional

While it's possible to create a will using DIY kits or online services, consulting with an experienced estate planning attorney can ensure that your will is legally valid and tailored to your specific needs.

Review and Update Regularly

Life changes such as marriage, divorce, births, deaths, and changes in financial circumstances may necessitate updates to your will. Review your estate plans periodically to ensure they still reflect your current situation and wishes.

How to Leave a Bequest to CVOEO

You can make a bigger difference in the future of Vermont when you include CVOEO or one of our distinct programs in your estate planning. You can also make CVOEO a beneficiary of your retirement account, life insurance, and other assets.

To leave a gift to CVOEO, consider using the following language in your will. “I give and bequeath unto CVOEO, tax ID #03-0216837, ___% of the rest, residue, and remainder of my estate to be used for general charitable purposes.”

CVOEO has also partnered with the Vermont Community Foundation to offer Charitable Gift Annuities, along with Charitable Remainder Trusts, and Charitable Lead Trusts. This partnership offers ways to give through your will, living trust, retirement plans, and other mechanisms that may provide fixed income back to you or a loved one for life.

Do you have questions about leaving a bequest or other legacy gift? Contact Jason Rouse, Philanthropy & Communications Director, at 802-862-2771 X744 or email jrouse@cvoeo.org.

National Make a Will Month serves as a reminder to take proactive steps towards securing your legacy. By creating a will, you not only protect your assets but also provide clarity and support for your loved ones during a difficult time. Don't delay creating or updating this important document—start planning today to ensure that your wishes are honored and your family is provided for according to your desires.