Your Will Can Help Provide the Way

Will Your Will Be Done on Earth after You Are Gone?

It almost certainly won't if you die without a will prepared by you and your lawyer because the State's Will will prevail. If you do not have a will, the state has one for you. If you and your lawyer have not prepared your will, your state of residency at death will distribute your estate according to its own priorities as reflected in its laws. Your estate will be divided according to a rigid formula, without taking into account the special needs of your family or your personal wishes. Without a will, you lose the power to control the disposition of your property at your death.

Benefits of a Will

When you have a will:

• Your property will be distributed to those whom you select.

• You can appoint your own executor.

• You can minimize certain costs to the estate.

• You can suggest the name of a guardian who will care for any surviving minor children.

• You can provide for trusts.

• You can provide for your church or favorite charity.

Who Needs a Will?

If you own property, have any investments, savings or insurance, have dependents (especially minor children), and if you wish to remember the work of the Queens Federation of Churches, your church or other charities — You Need a Will!

What Does the Will Do?

Does a will change during your lifetime? No. Until a person's death, a will is a private document. It need not be recorded in any office during your lifetime. A will does not transfer any of your rights to property while you are still alive. It is a plan for the distribution of your estate and a means of expressing your final wishes to family and heirs.

Keeping it Safe

A will should be kept in a safe place with all other valuable papers. A fireproof box at home or a strongbox in the office of your attorney is often recommended for this purpose. Many people keep their wills in bank safe deposit boxes, but this practice can lead to delay in obtaining the will at death in states where supervision of the opening of a box owned by a decedent is required. If you do not keep your will at home, it is wise to keep a photocopy of it with a notation as to the location of the original document.

How about Jointly Owned Property?

Does jointly owned property eliminate the need for a will? Not entirely. It is true, for example, that bank accounts, real estate, stocks and other property held in joint tenancy by you and your spouse, parent or child pass automatically to the survivor. But what happens to the property if both of you die in a common accident? The only way to insure that your wishes are carried out is to prepare separate wills.

• Lifetime giving — Giving portions of your estate now may have significant tax advantage.

• Charitable bequests — A bequest to a qualified charity can reduce estate taxes.

Should You Change Your Will?

Your will does not become final until your death or incompetency. As long as you are mentally competent and have not made a specific written agreement to the contrary, your will can be changed Changes in circumstances may suggest changes in a will.

If you have already made your will, ask yourself these questions:

• Is my will up to date?

• Is my executor still alive and able to perform duties of such?

• Is the Queens Federation of Churches and my church included in my will?

• Could a corporate trustee better manage my estate?

• Do I still want the same beneficiaries?

• Should I preserve more of my estate for my family and also make a significant final gift for the mission of the Queens Federation of Churches and my church through establishing charitable trusts?

• Have I provided for a means to pay for probate and estate taxes?

• Is my present will valid in this state?

• Has the size of my estate changed since this will was first written?

• Have any tax laws changed which will have an impact on my planned disposition of property?

It's Never Too Early

It is never too early to consider how you would like to dispose of your property at death. When you have made a plan, visit your attorney and have your will prepared. There will be important decisions to make requiring professional advice. Without a legal will, you may neither benefit your family as you would like nor give any property to the Queens Federation of Churches, your church or other charity.

Remembering the QFC in Your Will

As a Christian, you are the caretaker of the unique God-given gifts of life. The way you conclude your trusteeship is the way you say "thank you." Many who wish to contribute their Christian stewardship after death have provided for the work of the Queens Federation of Churches in their wills. There are many ways you can use your will to advance the missions of the Queens Federation of Churches.

• You may want to give the QFC a certain percentage of your estate.

• You may want the Federation to receive and reinvest in ministry the remainder of your estate after other bequests are made.

• You may want to create a trust which provides life income to a survivor and designates the Queens Federation as the final beneficiary.

• You may want to make an endowment bequest to Queens Federation of Churches.