When Preparing your Estate Plan, Beneficiaries Do Not Have to be Limited to Friends and Family.
Plan AheadFirst and foremost, every estate plan should be created with care and attention to detail. Using a qualified estate planning attorney like Dan Hill of Johnstown, PA, is a good start. Estate plans should not be treated as a last minute decision. Rather we should create a plan early in life and update it over the years as our lives change. Marriage, children, aging parents, and accumulation of money and assets all have an effect of how we will distribute assets over the course of our lifetime.
One thing that may occur in one’s life is an interest and involvement in a particular cause. Think Betty White and her love of animals. She supported the Best Friends Animal Society for over 20 years and likely included this charity in her estate plan. If you decide to include charitable giving in your estate plan, you will want to specify exactly which charity you intend to include in your estate plan.
Once you’ve got the right organization, you will need to specify exactly how you intend to include them as a beneficiary.