Why you should have a will
Although it may never seem like the right time to think about your will, the truth is that the best time is right now. Life is too unpredictable to leave your affairs to chance. You should exercise as much control over your estate as you can because, if you don’t, your hard-earned, precious assets could end up somewhere that might surprise you (like with the state or Federal government), or be highly taxed.
The best solution is to start with a carefully planned will. A will gives you the ability to:
- Disperse your assets to whom you choose
- Detail how your assets should pass to heirs or charity
- Name a personal representative for handling your estate
- Name a guardian for your minor children (or special-needs adults)
- Make use of tax-saving techniques
- Provide funeral instructions
- Protect heirs from outside influences
- Avoid unnecessary legal proceedings and financials costs (probate)
- Prevent excessive family tensions
- Provide for special needs of your dependents
- Provide for common disasters/presumption of death clauses
- Give yourself peace of mind
- Make provisions for your favorite charities, such as South Shore Hospital
What is a bequest?
Please consider naming South Shore Hospital in your will. It is an easy and meaningful way to support expert healthcare important to you. Your bequest can designate a piece of property, a specific sum of money, or a percentage of your estate. Charitable bequests are unique in that they enjoy unlimited deductions from federal and most state estate takes.
Here is sample wording to make your bequest:
"I bequest_______________________________(describe dollar amount, property to be given, or proportion of your residuary estate) to South Shore Hospital Charitable Foundation, a not-for-profit corporation located at 55 Fogg Road, South Weymouth, Massachusetts, 02190, for its general purposes (or specific cause.)"
The South Shore Hospital Charitable Foundation is available to assist you in developing plans that best integrate your charitable intentions with your overall financial objectives. Please do not hesitate to contact Pat Thompson for a confidential conversation at 781-624-4061 or email her.