SARANAC LAKE – August is recognized as National Make-A-Will Month, an annual observance that encourages individuals and families to create or update their estate plans. While the campaign itself is relatively recent, the importance of having a will has long been recognized as one of the most effective ways to ensure personal wishes are honored and loved ones are looked after.
Estate planning is often thought of as a financial or legal exercise, but at its core, it is about creating a legacy. A thoughtfully prepared will provides peace of mind, helps reduce uncertainty for family members, and allows individuals to determine how they want their assets distributed.
For many, that legacy begins with providing for a spouse, children, grandchildren, or other loved ones. Increasingly, however, individuals are also choosing to include charitable organizations in their estate plans. A planned charitable gift –whether through a will, trust, retirement account, or life insurance policy –can allow families to support causes that have played important roles in their lives while still ensuring their loved ones remain the first priority.
"Estate planning is ultimately about reflecting the values that have guided your life," said Jennifer A. Balog, MHA, CFRE, CAP, executive director of the Adirondack Health Foundation. "For many people, that means caring for family while also remembering the organizations that have touched their lives and strengthened their communities."
According to estate planning professionals, reviewing a will every three to five years – or after significant life events such as marriage, divorce, the birth of a child or grandchild, or retirement – is considered a best practice. Even those who already have a will are encouraged to review beneficiary designations and other estate planning documents periodically to ensure they continue to reflect their wishes.
As part of National Make-A-Will Month, the Adirondack Health Foundation is encouraging community members to start conversations with their families, attorneys, and financial advisors about their long-term plans. The Foundation also offers a complimentary educational guide, Planning Your Legacy: A Trail Guide to Providing for Your Family and Supporting the Causes You Care About, for anyone interested in learning more about the basics of planned giving and charitable estate planning.
Community members who would like a complimentary copy of the guide may contact the Adirondack Health Foundation at 518-897-2370 or email foundation@adirondackhealth.org.
Planning forthe future is one of the greatest gifts individuals can leave to those theylove. Whether a legacy is measured through family, philanthropy, or both,taking the time to create or update an estate plan can help ensure that values,wishes, and generosity continue to make a difference for generations to come.
