Giving to the Mercy Foundation

Why You Need a Will

Perhaps the single most important document to you and your loved ones is your will. This document provides clear and specific instructions regarding transfer of your assets after your death. These assets can include anything you want to leave to your loved ones or to charity. Unfortunately, if you die without making a Will, a total “stranger” (state laws of “descent and distribution”) takes over and determines what happens to your property. State laws are impersonal. They don’t make exceptions. The state-made Will cannot take into account the different needs of your survivors.

You may think your estate is so small that a Will isn’t necessary but actually, just the opposite is true. The smaller the estate, the more important that it is settled quickly – delays usually mean more expense. Remember that your estate may include cash, savings bonds, securities, cars, family heirlooms, jewelry, furniture, land and other real estate. An estate can be $1,000 to $1,000,000 or more, and each estate should be treated with equal care.

Many people delay making a Will because they are unfamiliar with the process and others just never get around to it. Unfortunately, countless family members know all too well how the death of a love one without a Will affected their lives. Just knowing you have your own plan in place should give you greater peace of mind.

By preparing a will now, you can avoid unnecessary delays, legal problems, and excessive taxes. A qualified attorney should be consulted when you decide to make your will. There is no substitute for his or her expertise during the will-making process. However, you play the most important role. You should make a list of the specific people you wish to remember, things you own and a plan for the specific property (or the percentage of your estate) you want to go to each person/organization. Consult with an attorney to find out what information will be needed to plan a proper will.

A will is commonly used to leave a lasting gift to charity. Please call the Mercy Foundation at (479) 314-1133 if you’d like more information about charitable giving through wills.