The Importance of Having a Will

We spend our lives acquiring things. We get an education. We work hard and strive for the best. The church teaches us that faithful stewardship of our possessions is important. As Christians, we want to be good stewards of God's gifts and trust.

A will lets us determine how what we acquire in our lifetime will be distributed when we no longer need it. A will is one of the tools of a faithful steward.

THE BENEFITS OF A WILL

What are the benefits of a will? What is gained by having a will? What is lost if there is no will? These are important questions for Christians. You are in charge when you have a will. You determine where and how your possessions will be distributed. If you do not have a will, the state may distribute your wealth as it chooses, which would not likely be according to your wishes. Only a personal will can assure that your lifetime investments, possessions, family, and interests will be cared for as you choose - not as the state decides. With a will, you are in charge; without a will, you aren't.

BENEFITS TO YOUR CHILDREN

A will helps you make decisions about the care of your minor children. You consider their best interests during your lifetime, so you should consider their care in the event of your untimely death. You know your children better than the courts do! You know people who love your children and can provide for them. Only your will lets you make that decision.

YOUR EXECUTOR

Your will lets you determine the executor of your estate. The court will appoint an administrator to settle your estate if you have no will. This person may not know you and may not have your best interests at heart. The court-appointed administrator may choose to take action that you would never consider. By selecting the executor of your estate through your will, you can be confident that your intentions are carried out.

YOUR WILL REDUCES COSTS

A properly drafted will can reduce the cost of settling your estate. The posting of bonds can be avoided, and fees can be predetermined. A will enables clear and quick handling of your assets. it simplifies the process and keeps legal and administrative costs to a minimum. Once again, a will allows you to exercise faithful Christian stewardship.

YOUR WILL MAY BRING TAX SAVINGS

A will allows you to take advantage of tax-saving devices, such as marital and charitable deductions. A will ensures that your United Methodist church, your college, and other institutions, agencies, and charities you have supported can benefit from your estate. Moreover, your estate cannot benefit from charitable deductions unless you have a will.

YOUR WILL HANDLES SPECIAL ITEMS

A will ensures that you can pass along special items that mean more to one person than another. It ensures that the person you wish to receive a special item will get it. Unless you have a will, the courts decide who gets which possessions. Family conflict could result.

A TRUST MAY BRING YOU UNUSUAL BLESSINGS

Through the use of trusts and other legal arrangements created in a will, you can have full use of your property during your lifetime but direct the income from these arrangements to those who need special help after your death. For example, in a testamentary trust, you can determine that some or all of the income produced from assets placed in the trust will benefit any individual you name. You can also determine that some of the principal or none of the principal will be given to that person, or you may create specific guidelines for using the principal. Such guidelines are beneficial when children and second marriages are involved.

YOUR WILL CAN ARRANGE FOR SPECIAL CIRCUMSTANCES

A will covers special circumstances. If one child needs more funds than another (for education, help with a handicap or disability, or other situation), your will addresses the situation. The courts may be sympathetic, but they are subject to the laws of descent and distribution in the settlement of your estate, not the needs of specific individuals.

YOUR WILL GIVES PEACE OF MIND

Within certain limitations, you can do almost anything with your will. If you don't have a will, the state determines what is best – not you. More than anything else, you gain peace of mind because you know that loved ones will be cared for and special people will receive special treatment. You know you have provided for your United Methodist church and other charitable interests. A will brings peace of mind. Having peace of mind and knowing that your acts of faithful stewardship are pleasing to God are reasons enough for creating a will.

WHERE CAN I LEARN MORE?

For information on how to make a will or how to include the ministries of the United Methodist Church in your will, ask your pastor or your local church endowment committee (if you have one), or contact the United Methodist Foundation that serves your annual conference. To find that information, visit naumf.org/location and click on the interactive map for phone numbers, email addresses, and websites.

This information is provided as a service from Discipleship Ministries, reprinted from a previous publication, and permission is given for the content to be copied by local United Methodist churches and entities. It is not intended to be legal advice on a specific issue. Always consult your attorney when considering these and other matters.