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As people grow older and mature, their wishes will sometimes grow and mature right along with them. This growth and the associated changes are a reminder that having an up-to-date estate plan is vital for any adult. This estate plan lets those you leave behind know exactly what to do with the assets that are part of your estate.
Some people think that assets should be left to close family members, but that isn't always the case. One Oklahoma woman opted to leave her home and everything she owned to the church where she was a member. When the 64-year-old woman died in October, the congregation of Mayflower Congregational Church was surprised to know that the woman left her 1,320-square-foot home and all her other assets to the church. In all, the gift the woman left the church was a little more than half a million dollars.
The church has opted to start a mission fund named after the woman with the proceeds they get from the sale of the home. It will fund Mayflower missions and the 363 Group. The Mayflower missions have a medical mission in Nicaragua, while the 363 Group serves lunch to the homeless and poor every other Saturday.
This woman bequeathed her entire estate to her church. Without having put that in writing, nobody would have known her wishes. This goes to show anyone who is putting off estate planning just how important it is to put your wishes on paper.
Anyone who is making a new estate plan or updating an estate plan might have questions about probate, estate administration, or a host of other topics. Getting answers to those questions before making your estate plan or changing it is vital to ensure that your wishes are clearly and legally conveyed.
