World Ark Magazine - November/December 2007 - (Page 52)

IT’S NEVER TOO EARLY TO HAVE A WILL Actually, everyone has an estate plan— whether you agreed to it or not. Every state provides laws that determine how your estate will be disposed of if you didn’t make arrangements to do it yourself. In other words, if you don’t have a valid will or living trust, the government will decide what to do with everything you worked so hard to build. And in many cases, a substantial portion of your assets could needlessly go to the government as estate taxes. government. Good estate planning brings peace to you and your loved ones. It brings gifts well beyond your possessions to those you care about. It is never too early to get your estate in order. There is no age limit on when to begin preparing for your family’s future, and there’s no limit on how often you can change your will. By having a will or living trust, you gain peace of mind because you know that your family will be secure and your friends will know how much they were loved should something happen to you today. Including your charity in your estate plan shows your passion for a better world. The right estate plan for you is one that if you were able to see the world after you’re gone, you’d see a happy, financially sound family, and a world that is a far better place because of your values and valuables. The world is better because of the circle of giving you began. { S The following are excerpts from Circle of Giving: Donors’ Stories of Wisdom. Written by Heifer Foundation President and CEO Janet K. Ginn, this inspiring and informative book of donor stories highlights the benefits of planned charitable giving as well as our organization’s mission. For a FREE copy of the book, return the form at the bottom of the page with your request. From Chapter 7: Wills, Living Trusts, and Bequests } THE BASICS ABOUT WILLS AND BEQUESTS even out of ten people die without a will or any other estate planning document, such as a living trust. I read in a book about estate planning by a lawyer, Alexander Bove, Jr., that Abraham Lincoln died without a will. Pablo Picasso died without a will. And Howard Hughes died without a will—at least without one definitive will. On the other hand, Alfred Bernhard Nobel immortalized his values through his will that established the Nobel Prizes. However, because Nobel wrote his will himself, without the help of professionals, long legal battles ensued, requiring the courts to clarify and interpret critical issues having to do with the selection of candidates and prize awards. After years of expensive proceedings in several different countries that were paid for by Nobel’s estate, the remainder of the original estate went to carrying out Nobel’s wishes — hopefully in the manner he intended. VALUES TRANSFER Y our will clearly states your objectives. It transfers your values by example to your family and loved ones. It answers the question of what was important to you. Do you have a house in the city? A condo in Florida and a bungalow in Maryland? A small apartment with some antiques and stock? What does your estate look like? There are only three places to distribute your wealth: family/friends, charity, and

Table of Contents Feed for the Digital Edition of World Ark Magazine - November/December 2007

World Ark - November/December 2007 Contents Letters For the Record The Good Life Asked & Answered Pursuing Happiness (PRODUCT) RED: Consumer Power Fights AIDS in Africa Rwanda Reconciles End Hunger Now Protecting the Poor from Climate Change Mixed Media Heifer Bulletin Heifer Spirit Heifer Calendar Reflection

World Ark Magazine - November/December 2007

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.