“Bill always knew what he wanted to do… he told everyone he would sell his vintage car and donate the proceeds to advance end-of-life care in honor of the care his wife received. He wanted to help other people and pay it forward.” – Mike M., nephew of Bill
Personal values impact your decisions, relationships and your estate plan. Planning for the legacy you want to leave isn’t only smart – it’s impactful.
To recognize National Estate Planning Awareness Month this October, here are three tips to help you map out your estate plan:
- Create or update your will. While no one can plan for unexpected life events, you can prepare for them. Many people put off creating their estate plan because they think the process will be complicated, but it’s usually quite simple. Plus, the consequences of passing without a plan are steep – probate costs, family frustration, and losing your opportunity to name the next guardian of your children or resources.
- Create a legacy drawer. Leaving a legacy is about more than financial inheritance. Gather important documents, passwords, policies, family stories, photos, and even handwritten letters into one place for your loved ones. Some people call this an “ethical will,” which includes important family treasures you want to pass down.
- Communicate your plans. Communication is key in any relationship, especially when it comes to sharing your plans and intentions with your family. You can let them know about your investments, any gifts you’ve included for a cause or organization like Hospice of Michigan, and the personal values that have driven your decisions and life. This provides clarity on exactly the kind of legacy you want to leave.
Don’t miss out on an opportunity to leave your legacy and take care of those you love with an up-to-date estate plan.
Have questions? Arbor Hospice can help!
For more information, contact Emily Olson at 734-794-5147 or emolson@arborhospice.org
Learn more about Legacy Giving