Toledo Community Foundation and The Blade, in partnership with The Center for Nonprofit Resources and WTVG-13abc, are happy to announce the winners of the sixth annual Nonprofit Innovation & Excellence Awards
, which recognize local nonprofit organizations that stand out for their contributions to our community.
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Over 50% of our adult population does not have a current or up-to-date estate plan to protect themselves and their family's assets; that’s half of your family, friends and associates.
Estate planning is a financial process that can protect you and your family and is a very important component of your overall financial planning. Now is the perfect time to put your estate planning house in order. If you don't have an up-to-date estate plan and you happen to get hurt or sick and cannot manage your financial affairs, the courts will have to appoint someone to manage them for you. The person they appoint might not be the one you would want to perform those tasks.
Without an estate plan, when you pass away, your affairs will be settled by default through a complex legal system called "probate." The handling of your financial affairs can turn into a costly and frustrating ordeal for your family and heirs.
The crafting of a good estate plan starts with planning, followed by the proper drafting and signing of appropriate legal documents such as wills, trusts, buy-sell agreements, durable powers of attorney for asset management, and an advanced health-care directive or health-care power of attorney. Having these documents in place saves you and your family a lot of money and time at a very difficult and emotional time.
Your estate planning should also address the coordination of the way you hold title to your various assets, your beneficiary selections, and philanthropic gifts you wish to make as a part of your legacy.
Regardless of the extent of your net worth, estate planning is important for everyone. Complex strategies may be used by wealthy people to reduce death taxes and costs. Others may only require a simple will and/or trust to pass on property to their heirs and provide for minor children.
Even if a simple will is all you require, an estate plan is an essential part of your financial planning. Everybody will need it someday. The time to address or update your estate plan is now.
“The only person who doesn't need an estate plan is the one who lives forever and never gets sick.”
-Your financial PARTNER
Learn More Below: CHECKLIST – SIX STEPS TOWARD SUCCESSFUL ESTATE PLANNING
For more information on creating a legacy as a part of your estate and financial planning, email Mike George or Bridget Brell Holt, philanthropic services officers, Toledo Community Foundation, or call 419.241.5049.
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#GivingTuesday™ is a national day of giving at the start of the holiday season that celebrates and encourages charitable activities that support nonprofit organizations. Toledo Community Foundation and The Blade have partnered to support local nonprofits in this effort by promoting the program and encouraging donations through a matching grant opportunity. This year, #GivingTuesdayNWO is November 29, 2016. We are promoting local giving by dubbing our giving day, #GivingTuesdayNWO. Here, you will find information sections (Learn More) for both nonprofits and donors.
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