Writing your will is an important life step. Though it may seem like just a piece of paper, a will allows you to define the legacy you’ll leave behind and ensure that your wishes will be respected when you’re gone.
Your will gives you the opportunity to decide how your assets will be divided, ensure that your loved ones are taken care of, and give back to the next generation by supporting the organizations and causes that are close to your heart.
But perhaps most importantly, your will determines how you’ll be remembered. This is why we encourage you to take the time to draft or update your will, regardless of your age or financial situation, to ensure that it reflects your values.
A meaningful final gift
A gift through your will is an excellent way to ensure you leave a meaningful legacy that will live on for generations.
Here are six great reasons to make a bequest to a cause you care about in your will:
- It’s easy. You simply need to add a sentence to your will.
- It’s flexible. A gift through your will is revocable, which means that it can be changed at any time.
- It’s versatile. You can give a specific sum of money, a percentage of your estate, or, in some cases, specific assets.
- It’s fulfilling. Giving feels good. With a gift through your will, you get the satisfaction of making an impact while continuing to enjoy and maintain control over your assets for the rest of your life. You also ensure that your wishes are made clear and respected.
- It’s inspiring. Your gift will undoubtedly inspire others to give in turn. Your story can have a ripple effect in your family or community.
- It’s impactful. Your legacy reflects a lifetime of work. A gift through your will is probably the most important gift you will ever make and will have an immeasurable impact on the cause you care about. At Sainte-Justine, donations support the development of cutting-edge care and propel breakthroughs that transform the lives of children and their families.
Choosing the liquidator for your estate
Choosing the liquidator for your estate is one of the most important decisions you’ll make when writing your will.
Take some time to consider who in your life would be willing to take on this important task. The most common choices are a spouse, an adult child, a sibling, or a close friend.
Whoever you choose, they should be organized, honest, and trustworthy. Ideally, you should let the person know ahead of time to make sure they’re on board.
Have a conversation with them about your vision and values so you can be sure that your wishes will be respected when the time comes.
If you don’t have a family member or close friend you trust to fill this role, look into professional services offered by lawyers, notaries, and trust companies.
If your will contains a bequest to an organization, contact that organization to see if it would be willing and able to appoint a liquidator for your estate.
It’s also recommended to name a backup liquidator in case your first choice is unavailable or unable to handle your estate upon your death. To learn more about bequests and life insurance donations, contact Nathalie Gagnon, Director of Planned Giving and Legal Advisor, at 514-345-4931, ext. 6749, or by email at email@example.com.