Wills
Why you should have a will
Although it may never seem like the right time to think about your will, the truth is that the best time is right now. Life is too unpredictable to leave your affairs to chance. You should exercise as much control over your estate as you can because, if you don’t, your hard-earned, precious assets could end up somewhere that might surprise you (like with the state or Federal government) or be highly taxed.
The best solution is to start with a carefully planned will. A will gives you the ability to:
- Disperse your assets to whom you choose
- Detail how your assets should pass to heirs or charity
- Name a personal representative for handling your estate
- Name a guardian for your minor children (and special-needs adults)
- Make use of tax-saving techniques
- Provide funeral instructions
- Protect heirs from outside influences
- Avoid unnecessary legal proceedings and financials costs (probate)
- Prevent excessive family tensions
- Provide for special needs of your dependents
- Provide for common disasters/presumption of death clauses
- Give yourself peace of mind
- Make provisions for your favorite charities such as South Shore Hospital
What is a bequest?
A bequest - a gift made through a donor’s will - is the most common and simplest form of planned giving. Individuals may include South Shore Hospital, South Shore Visiting Nurse Association or Hospice of the South Shore in their wills by naming the Foundation for either a specific amount or a percent share of their estate. Donors may also name us as the residual beneficiary of their estates after payment of bequests to others.
Among the benefits of making a bequest gift is the fact that donors do not have to part with any money until they die, and donors do not owe any estate tax on the amount of the bequest.
The South Shore Hospital Charitable Foundation is available to assist you in developing plans that best integrate your charitable intentions with your overall financial objectives. Please do not hesitate to contact Planned Giving Officer Donna Driscoll for a confidential conversation at 781-624-8142 or email her at donna_driscoll@sshosp.org.
