Take Charge of Tomorrow: Why National Make a Will Month Matters

August is the Perfect Time to Make a Will

August is recognized as National “Make a Will” Month. At Gilchrist, where we prioritize advance care planning, we urge everyone to take this opportunity to create or update their wills. An astonishing 60% of Americans don’t have a will, yet life’s unpredictable nature makes it essential. Financial advisors suggest reviewing and possibly updating your will every five years to keep pace with life’s changes.

Understanding the Importance of a Will

Crafting a will is more than a legal necessity—it’s a profound way to establish your legacy for your loved ones and the broader community. A will is a crucial tool that outlines your wishes, helping to alleviate the burden of time, cost, and stress on your family during difficult times. By setting your affairs in order, you ensure that your final wishes are respected and that your legacy is preserved in the manner you envision. Learn more about advance care planning here.

Is a Will Necessary?

In our daily lives, we are met with numerous financial obligations, but is creating a will a priority? The consensus among financial experts is clear: everyone should have a will. Regardless of the size of your estate, a will is crucial for conveying your wishes clearly and confidently to your loved ones. Here are some key benefits of having a will:

• Asset Distribution: It allows you to specify how your property is divided, ensuring your loved ones are cared for.
• Peace of Mind: Both you and your family can rest more easily knowing that arrangements have been made.
• Guardianship: You can designate guardians for your dependents, from children to pets, securing their future.
• Conflict Prevention: A clear will can reduce the potential for family disputes over your assets.
• Clarity and Direction: It eliminates uncertainty about asset distribution.
• Control Over Legacy: Ensures your assets are allocated according to your wishes, not left to state laws.
• Charitable Giving: You can choose to support charitable causes, extending your impact beyond your lifetime.

Crafting Your Legacy Through Your Will

Creating a will enables you to extend your influence beyond your lifetime by supporting the causes closest to your heart. Whether your contributions are large or small, each charitable gift in your will makes a meaningful impact.

Gilchrist itself was born from such a visionary act; Jeanne Gilchrist Vance’s remarkable bequest founded our organization, allowing us to continue her legacy of compassion and care. Like Jeanne, many of our supporters have chosen to leave legacy gifts, each one contributing to our mission and extending their values into the future.

When you include a charitable gift in your will, you not only make a lasting difference but also reap practical benefits. Your estate will receive a tax receipt for the full value of the donation, providing a significant tax credit on your final income tax return. This not only honors your philanthropic wishes but also enhances the value of the residual estate for your beneficiaries, ensuring that your legacy is both impactful and financially wise.

You can learn more about making a legacy gift by contacting:

You can learn more about including a legacy gift to Gilchrist in your will by contacting Jamie Lynch: jlynch@gilchristcares.org  443-849-8241.  In Howard County: Diane Aten Daniels: daten@gilchristcares.org 443-721-6110. Additional information can be found: https://gilchristlegacy.giftlegacy.com/