A planned gift is one which you make during your lifetime but which is not received by the Brazos Education Foundation until a future date. Planned gifts include leaving a gift to the Brazos Education Foundation in your Will or designating the Brazos Education Foundation as a beneficiary of a life insurance policy.
Surveys show that only 4 out of 10 Americans across all age groups have current wills, concluding that this is a subject most people avoid. If a will is one of the most important documents you can own, why do so many people live without them? Perhaps they think that by postponing death planning, they can postpone the inevitable? Or maybe they simply don't want to take the time or money (a relatively small amount) required to create an up-to-date will.
We suggest that it is time to think differently about a will. Think of planning a will as planning to improve and stabilize the financial security of yourself and your family. By thinking in this way, you will be putting present goals first. You may have heard that if you die without a will, the state will take all of your property. While this is not usually true, it is fact that the state in which you live at the time of death is going to step in and determine exactly how your property is distributed—unless you have prepared a will.
Without a will, your wishes and good intentions are meaningless. Your estate will be divided using a predetermined formula that won’t take into account special needs or circumstances.
In most states, your assets will go to immediate family—a portion to a surviving spouse and a portion to any children you may have. If you have no immediate family, they will be divided among other relatives. State laws do not provide for close friends, employees or other loved ones, such as your spouse’s family members.
Neither the old friend that you wanted to remember with a treasured heirloom; nor the next-door neighbor who was always there to help, will receive as much as a dime if you don’t have a will.
The same holds true for charitable organizations that you may have wanted to support generously after your death. If there is no will, there is no support.
A will allow you to remember the people you care about and the scholarship program at the Brazos Education Foundation. Please contact us for more information about Planned Gifts.