MIAMI COUNTY, IN- This from Brian Johnson, Director of Philanthropy, Northern Indiana Community Foundation:
Have you considered how your assets could continue making an impact after your lifetime? It can be an uncomfortable question, but it is also an important one, especially for those who want their values to benefit future generations. While providing for loved ones is often the first priority, many people also choose to support the causes and organizations that have been meaningful to them during their lifetime. A will is one way to make those wishes clear and ensure your legacy reflects both the people and the causes that matter to you most.
If you pass away in Indiana without a will, state law determines how your assets are distributed. Those provisions generally direct assets to a spouse, children, parents, or extended family. If there are no living relatives, the state of Indiana becomes the beneficiary. Without a will, you lose the ability to decide who benefits from your estate.
Take a moment to think about the organizations that have shaped your life and the needs you may want to support in the future. A legacy gift allows you to continue that support after your lifetime. Including a charitable gift in your estate plan can help ensure that the organizations and causes you care about continue receiving support when you are no longer able to provide it yourself.
Locally, organizations such as Peru YMCA, Miami County Historical Society, Ole Olsen Memorial Theatre, students continuing their education, basic human needs, festivals, and many others benefit each year from charitable gifts included in wills. Donors who shared their time, talent, and treasure during their lifetimes continue to support our community by including a charitable gift in their will. These gifts not only provide financial support but also establish a legacy that shares the donor’s values for generations to come.
In addition to extending your support for the causes you care about, a charitable gift in your will may offer tax benefits for your estate. Because every situation is different, it is important to work with financial planners and attorneys who can help shape an estate plan that reflects your wishes and provides the greatest possible benefit.
If you do not have a will, now is a good time to begin that conversation. Creating an estate plan with the guidance of an attorney can help ensure your loved ones are provided for, your wishes are honored, and the organizations and causes that matter to you continue to strengthen our community for generations to come.
August is National Make-A-Will Month.
For more information visit www.nicf.org
