PREPARING AND UPDATING YOUR WILL:
An Estate Plan That Reflects Your Values
Writing a will is a loving and responsible act for the sake of your family. Here are a few helpful suggestions on how to prepare to write your will.

Before seeing an attorney:
• Make a list of everyone for whom you are responsible.
• List everyone that you would like to remember in your will.
• List all of your material assets.
• After subtracting your debts, match the names with the assets or consider giving a portion of your total estate to each individual. Take care of your family first. This is also the time to consider special friends and your favorite charities.
• Consider establishing a trust if your estate is large enough. (Request a copy of the ERH Trust tool kit.)
• Ask your chosen estate administrator (sometimes called executor/executrix) if he or she willing to serve.
• Consult with the people you select as guardians of your children (where minor children are involved).
• Talk with the foundation staff to explore the ministries of the retirement home that could best be funded with a gift from your will.

Bequests in your will can take several forms:
• An outright monetary bequest.
• A percentage of an estate.
• A specific asset, such as personal or real property.
• A contingent beneficiary, i.e., a named charity receives the assets if there are no surviving beneficiaries.
Note: A bequest to a retirement community is deductible from the value of your estate for tax purposes.

After making your will:
• Make sure someone knows where your will is located.
• Do not place funeral instructions in a safe-deposit box. Generally, services will be over by the time your administrator checks your bank box. Instead, leave a copy of your funeral plans and wishes with your priest or cleric and a member of your family.
• Review your will from time to time with your legal advisor. Laws, assets, and personal interests often change over time.

Preparing to write a will is an act of love for your family and friends, a way of easing the pain of loss that follows death. It is also your final legacy.

Sample forms of bequest:
Specific Amount:
I, ______________, bequeath to the __________ Retirement Community, 123 Main Street, Anywhere, My State, 00000, the sum of $XX,XXX to be used at their discretion to assist in the ministries of the home.

Percentage Amount:
I, _____________, hereby give, devise, and bequeath to __________ Retirement Community, 123 Main Street, Anywhere, My State, 00000, XX% of the rest, residue, and remainder of my estate, to be used at their discretion to assist in the ministries of the home.

Contingency Bequest:
In the event the beneficiaries of bequests and devises herein predecease me, or, in the case of institutions, cease to be organizations described in section 501(c)(3) of the Internal Revenue Code, I, ____________, hereby give, devise, and bequeath to the________ Retirement Community, 123 Main Street, Anywhere, My State, the rest, residue and remainder of my estate, to be used at their discretion to assist in the ministries of the home.

Quick Links to Planning Ahead:
Entire Booklet (.pdf)
Ohio's Living Will
Health Care Power of Attorney
Preparing your Funeral Service
Preparing and Updating your Will
Financial Planning and Powers of Attorney

Disclaimer:
This booklet is purely informational. Episcopal Retirement Homes is not engaged in offering legal or medical advise. We urge you to consult your own financial planner, attorney and physician for those issues specific to your situation.

The consequences of a charitable gift depend in significant part on each donor's particular circumstance. This general discussion of ways to give does not address every issue, nor does it take into consideration the type of assets you have, your individual tax situation or your estate and gift tax planning objectives. You are most strongly urged to consult your tax and estate planning advisors.