Do you have your standard Will in place? If you are like most Americans the answer is probably no. Depending on what survey you look at, roughly 60-70% of people do not have a Will in place. A Will is the basic legal document that outlines your wishes for your earthly belongings and assets. I know one thing for sure, if you don’t decide what to do with your assets, the State you live in has a process to decide for you.
Getting a Will done is just one of those things that people put off doing. They know it is important and it probably is on their to do list, but the excuses and procrastination always seem to win out. For those of you who have an estate plan in place, it always good to review it every couple of years. A lot can change in that amount of time such as laws, beneficiaries, and financial status.
I often talk to donors who are in the process of completing or updating their estate plan documents and want to leave something to Michigan Lutheran Seminary or the MLS Foundation. For those who have informed the MLS Foundation that they will be leaving a gift to us, they will become members of the Eberhardt Society. Please contact the MLS Foundation office for more information about becoming a member of the Eberhardt Society.
I have included some links and other information that pertains to this topic. As always please contact your professional adviser before making any estate planning decisions.
Wills and Bequests Booklet
Estate planning checklist– Simple easy checklist.
WELS Ministry of Christian Giving – This is a great place to start if you are unsure of what to do or who to talk to. A giving counselor can walk you through the process and provide information that may help you with your situation.