Estate Planning: Why It Matters for You and Family Service Rochester
As National Estate Planning Awareness Week (NEPAW) approaches (October 21st-27th), it is a timely reminder for all of us to think about the future, the legacy we want to leave behind, and how we can ensure our loved ones and the causes we care about are supported in the years to come. Estate planning is often overlooked, but it is one of the most important steps you can take to secure your family’s future and make a lasting impact on your community.
At Family Service Rochester, we believe that estate planning is not just about finances—it is about values, family, and ensuring that the things you care most about are taken care of after you are gone. That is why we want to share why estate planning is crucial and how it can make a difference not only for your loved ones but for organizations like ours that are dedicated to serving the community.
What is Estate Planning?
Estate planning is the process of outlining your wishes for your assets, such as property, savings, investments, and possessions, after your passing. It ensures that your family is taken care of and that your assets are distributed according to your wishes. A comprehensive estate plan often includes:
- A will: Specifies how you want your property and assets distributed.
- Power of attorney: Appoints someone to manage your financial and legal affairs if you are unable to do so.
- Healthcare directives: Outlines your wishes regarding medical treatment if you are unable to communicate.
- Trusts: Helps manage your assets and can reduce taxes for beneficiaries.
- Beneficiary designations: Ensures your retirement accounts, insurance policies, and other financial instruments go to the right people.
Why is Estate Planning Important to YOU?
Estate planning is essential for anyone who wants to:
- Ensure that family and loved ones are cared for: Without an estate plan, the court system decides how your assets are distributed, which may not align with your wishes.
- Prevent unnecessary stress for loved ones: A clear estate plan reduces confusion and disagreements about your wishes.
- Minimize taxes and fees: Proper estate planning can help reduce estate taxes and probate costs, leaving more for your beneficiaries.
- Support the causes you care about: You can leave a legacy by including charitable organizations, like Family Service Rochester, in your will.
Why Estate Planning Matters for Family Service Rochester
As a nonprofit organization, Family Service Rochester relies on the generosity of donors to fund our essential programs and services. Including a charitable bequest in your estate plan is a powerful way to support the community and ensure that the work we do continues for future generations.
Here’s 2 ways a planned gift to Family Service Rochester makes a difference:
- Sustaining Our Mission: Your legacy gift ensures we can continue providing vital services such as mental health counseling, senior care, and youth development programs.
- Long-Term Impact: A bequest allows us to plan, invest in innovative programs, and expand services to meet the growing needs of the community.
How You Can Get Started
If you are considering creating or updating your estate plan, National Estate Planning Awareness Week is the perfect time to start. It is important to consult with a financial planner or attorney to ensure that your estate plan reflects your wishes and maximizes the benefits to your loved ones and charitable causes.
If you would like more information on how to include Family Service Rochester in your estate plans, we are here to help. Feel free to contact us for guidance call 507-287-2010.
Together, We can Build better Lives into the Future!
