1. Make a Will. When people start adding up the value of their home, life insurance, retirement accounts, and other property, they begin to see that even with a modest middle-class estate, a plan is needed that provides for their families and the charities they love.
2. Reduce (or eliminate) unnecessary taxes and court costs. A Will can help you reduce probate hassles and costs, avoid certain taxes, and decrease other administrative expenses – freeing up more resources to your heirs and charitable work.
3. Decide who will manage your estate after you die. Without a Will, a court decides how to distribute your estate. On the other hand, when you name your own representative in your Will, you decide who will distribute the money and things entrusted to you.
4. Decide who will take care of your kids. If you have minor children, a Will allows you to name the guardian of your children and a Trustee of the assets to provide for the children. If a court is left to make these decisions for you, your spiritual values may be disregarded.
5. Include “ministry” in your family. Your Will can be powerful a testimony to family and friends. Including your extended “family” in your Will – namely your church and favorite charities – is a wonderful way to express your values for generations to come.