Some wills won’t. For example, if your state requires the signatures of two disinterested witnesses and a beneficiary of your will signs as a witness, your will may not work.
A will that’s out of step with your other estate planning documents may not work either. Let’s say your will dictates that your entire estate is to pass to your spouse and yet your life insurance policy indicates a different beneficiary. Will your will supersede your policy and redirect the insurance proceeds to your spouse? Probably not.
An out-of-date will that fails to take full advantage of current estate tax law may not work well either. It could cost thousands in added taxes. Nor can you feel confident in a will that has not been updated to reflect major changes in your family life or financial affairs.
Does your will accomplish everything you want it to do? Is it up to date? Is it valid? Do you even have a will?
Our team at the Community Foundation wants you to have the peace of mind that comes from knowing you have a valid estate plan. We want you to have a will that works well for you, and one that, depending on your wishes, may also support important causes while carrying on your legacy.
It’s amazing how often people say, “I never thought about making a charitable gift through my will. It just never occurred to me.”
When you name The Community Foundation of Frederick County in your will (or living trust) to receive a specific amount or a percentage of your estate, you make one final gift — your crowning gift — to an organization you have supported during your life. You declare in your Last Will and Testament that you believe in the mission of the Community Foundation and that you want a portion of your accumulated assets to be invested in furthering the good of causes you care about.
If you have arranged for an estate gift through a will or other transfer document, we would like to know so we can thank you while you are here. We want to express appreciation for your confidence in our future. We want to honor you for your prudent planning. Of course, if you wish, we will treat news of your bequest plans anonymously.
As always, we urge you to consult with an estate planning attorney or other qualified advisor regarding a will, a living trust or whatever else may best suit your needs. Sound professional help will contribute to your peace of mind — and that of your family.
Our Philanthropic Services team is here as a resource and would love to speak with you about options for gifts and estate plans. Reach our team at 301-695-7660 or email development@FrederickCountyGives.org.