Many, often the young, or those who feel that their estate is too small, believe that a will represents an unnecessary expense. But the preparation of a will need not be expensive. And even when property distribution issues are not numerous, the will is the legal avenue through which a number of other issues should be addressed:
• Naming an executor
• Avoiding expense of a bond
• Naming a legal guardian for your children
• Reducing estate tax liability
• Making gifts or transfers to charities like Cornerstone Community Church
In the absence of a will, the state will resort to a formula. A judge will name an executor; bond may have to be posted; the court will name a guardian; a formula will determine asset distribution.
A charitable bequest to Cornerstone Community Church affords a way for virtually anyone to express specific philanthropic wishes. In fact, the bequest is the most frequently utilized method of support of charity in America. A bequest may take on a number of forms, including:
• A specific dollar amount
• A percentage of the estate’s residual value
• A specific asset
The benevolent spirit is given a voice when wishes are expressed in the will. While many may think philanthropy is reserved for a few, the truth is that every bequest makes a mark that will last for eternity. Please keep the ministry of Cornerstone Community Church in mind as you prepare and steward your resources.
