Giving Voice to My Hopes and Dreams!It may have started the first time we took a deep breath and blew out the candles, or perhaps it was when we gazed upon a lone star in a dark sky. We would quietly make a wish and take care to tell no one, in hopes that the wish would come true. Wherever it began, the practice of keeping our most personal hopes and dreams to ourselves is a tradition that Americans, in large number, tend to revive when it comes to a final communication with friends and loved ones.
This final communication is called The Last Will and Testament. Regardless of how we've come to view this document, it is a final opportunity to give expression to personal wishes.
Every year, the vast majority of Americans who die do so without having prepared a valid Last Will and Testament. For the past three decades, the numbers hover between 70 and 80 percent. This statistic is especially astounding since state and federal laws provide some significant incentives for the preparation of a Will. These incentives are designed to make it easy for very personal wishes to be known and followed - wishes that deal with child custody, property distribution and a legacy of values.
Do I need a will?
Many people, especially young individuals and those who feel that their estate is too small, believe that a Will represents an unnecessary expense. But the preparation of a Will need not be expensive. Even when property distribution issues are not numerous, a Will is the legal avenue through which a number of other issues should be addressed:
- Naming an executor
- Naming a legal guardian for minors
- Making gifts or transfers
- Reducing estate tax liability
In the absence of a Will, the state will resort to a formula. A judge will name an executor, a bond may have to be posted, the court will name a guardian and a formula will determine asset distribution.
Your Charitable Bequest
You can leave a legacy gift to charity. Whether you think of yourself as rich or poor, or somewhere in between, your gift can make a difference. Even a small amount can make a huge impact over time.
The charitable bequest affords a way for virtually anyone to express specific philanthropic wishes. In fact, the bequest is the most frequently utilized method to support charity in America. A simple directive in your will can bring welcome support to Vita Nova, Inc. and make a difference in the lives of youths for years to come.
A bequest may take on a number of forms. The three most common are:
- a specific dollar amount
- a percentage of the estate; and/or
- contingent bequest.
Example bequest language - Please feel free to change the numbers or percentages as you desire.
1.Bequest of cash
''I bequeath the sum of $10,000 to Vita Nova, Inc. 1800 South Australian Ave., Suite 205, West Palm Beach, FL 33409.''
2.Bequest of a percent of the estate
''I devise and bequeath 20 percent of the remainder and residue of property owned at my death, whether real or personal, and wherever located, to Vita Nova, Inc. 1800 South Australian Ave., Suite 205, West Palm Beach, FL 33409.''
3.Contingent Bequest
''If my brother John Doe does not survive me, then I devise and bequeath 20 percent of my residuary estate, whether real or personal property and wherever located to Vita Nova, Inc. 1800 South Australian Ave., Suite 205, West Palm Beach, FL 33409.''
The philanthropic spirit is given a voice when wishes are expressed in the Will.
While many may think philanthropy is reserved for a select few, the truth is that every bequest to this organization makes a mark that will last throughout history. If you would like more information on Wills, including sample language for making a charitable bequest, we invite you to contact us directly. You can call us at 561-689-0035 or e-mail us atinfo@renvill.org
If you would like more information on Wills, including sample language for making a charitable bequest, we invite you to contact us directly. You can call us at 561-689-0035 or e-mail us at inugent@vitanovainc.org