Making a Will Today is a Good Idea!
by Richard Kelly JD, CFA, Board of Trustees member - Mother of Mercy High School
Most of us understand the importance of making an estate plan. However, like dental appointments and gutter cleaning, it is something we tend to put off.
Having a will could save your heirs a lot of time, expense, and hassle at the courthouse. In Ohio, if you die intestate (without a will), your assets will be distributed according to a plan designed by the Ohio State Legislature. It would be an incredible coincidence, indeed, if that legal scheme were identical to your true intentions.
It is safe and appropriate to consult an attorney who is experienced in probate matters to draft your will. Such professional preparation is particularly important if your financial situation is complex or there are special family or tax concerns. In very simple estates, there is a growing trend to self-preparation of wills, often from a prepackaged estate kit.
Once made and properly executed, store your will in a safe place. You might also wish to give a copy of the document to the person you have chosen to represent your affairs after your passing, known as the executor (or executrix, if female).
Review your will once a year, perhaps after you finish signing your tax return. It is remarkable how many changes we experience in our lives over the course of a year and you might need to modify your will accordingly. Any changes need to be carefully executed. Simply crossing out or adding names and amounts will usually not legally change your will.
Please consider making a gift or bequest to Mercy High School. List our name as:
Mother of Mercy High School
3036 Werk Road
Cincinnati, Ohio 45211