Making Your Will: Easy as ABC!

A lot of people find it easy to delay preparing a will. By some estimates, as many as 85% of us do not have one. We procrastinate because we think estate planning is hard. But really, it is not all that difficult. In fact, creating a will can be as simple as ABC! Here’s how:

Assets. Begin by making an inventory of all your assets: Insurance, retirement, bank and brokerage accounts, real estate, vehicles, artwork, jewelry – everything you own. Once you have the list, estimate the value of your assets and then deduct any debts or mortgages you may have. This will give you a rough idea of the total value of your estate. Having this information well organized can save both time and money when the will is actually written.

Beneficiaries. Whom do you want to receive your assets, and in what amounts? First, consider family needs and obligations. Then think about the charitable organizations that are important to you, and how a bequest could benefit them while creating a lasting legacy for you.

Confidants. Choose trustworthy individuals to provide legal and other professional assistance, as well as a personal representative to help settle your estate. You may also need to select one or more trustees and guardians for any minor children.

Once you have listed and valued your assets, selected the beneficiaries for your estate (don’t forget charitable organizations – and we hope you’ll include our Red Cross Chapter!) and have chosen the key persons to assist you now and after your death, it is time to act! Don’t delay. Contact an estate-planning attorney right away and move forward!

If you need help finding a good attorney, ask your friends for suggestions or contact the Trust Department of your bank for a referral. Ask around until you find someone with whom you feel comfortable. If you wish, our Red Cross Chapter can assist you with this process.

While creating a will is not nearly as difficult as you might have thought, it does take some time. But the end result – a deep sense of satisfaction and peace of mind – is well worth it!

To help make the process of planning for your and your family’s future even easier, we have available the Touching the Future: A Guide to Estate Planning and Charitable Giving. This comprehensive kit includes a checklist and suggestions to help you organize the important information outlined above. It also explains why it is so important to have a valid will.

To obtain a free copy, please contact Stephanie M. Boumediene, Gift Planning Officer, (805) 403-1477 or via e-mail. The kit is free, but the information it contains is priceless!

Please note: If you wish to leave a Planned Gift to our Chapter, please indicate the Santa Barbara County Chapter of the American Red Cross as the recipient of your will or trust.