Last time the Yale Bulldogs were in NCAA tournament, I wasn’t even born. And yet, just moments ago, Yale pulled off a stunning first-round upset.
Again, the unexpected can happen.
We don’t like to think about shocks in terms of life and death. But a mordant and bad joke among estate planners is that “people don’t always die when they’re supposed to.” Indeed, we all know people that passed away well before their time.
Nothing is promised to anyone. And if you should die without a will, it can cost your family and friends a lot of time, a lot of money, and lots of anxiety and even heartache.
There are at least three (and ½!) major reasons you need a will.
#1 Without a will, probate courts and the Iowa Legislature decide everything about your estate.
If you die without a will, you are leaving it up to the legislature/courts to decide who will receive your property. Or, even, who will get to raise your children.
#2 Without a will, you cannot choose a guardian for your children.
If you die without a will, the courts will choose guardians for your children. One of the most important aspects of a will is that it allows you to designate who will be the guardian for your children. This can ensure that your children are cared for by the person that you want, not who the court chooses for you.
#3 Without a will, the probate court will choose your estate’s executor.
If you die without a will, the probate court is forced to name an executor. The executor of your estate handles tasks like paying your creditors and distributing the rest of your assets to your heirs. Of course, if the probate court has to pick who will be your estate’s executor, there is always a possibility that you would not have approved of that person if you had been alive.
If you have a will, it will name an executor who will carry out all of your final wishes, pay your bills, and distribute your assets just as you wanted.
#3½ Without a will, you can’t give your favorite nonprofits gifts from your estate.
If you die without a will, your estate assets — your house, savings, and so on — will pass to your heirs under Iowa’s statute. If you have a will, you can include gifts to your favorite nonprofits and see that these nonprofits are helped for many years to come
Take control of your future. You can start by downloading my estate planning questionnaire, simply click here.
https://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.png00Gordon Fischerhttps://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.pngGordon Fischer2016-03-17 17:48:212020-05-18 11:28:59What the Yale Bulldogs can teach us all about estate planning
A seminar presented by Gordon Fischer Law Firm, P.C. When: Monday, January 25, 2016 from 2:00 p.m. – 3:30 p.m.
Where: Iowa City Senior Center, 28 S. Linn Street, Iowa City, Room 208
–Free and open to the public–
Gordon Fischer will lead the group in three discussions:
Why you need a will and estate plan
7 most common estate-planning mistakes
5 easy ways to super charge your charitable giving
Gordon Fischer is an Iowa lawyer with more than 20 years experience. The mission of his law firm is to promote and maximize charitable giving in Iowa. Reach out any time — email is gordon@gordonfischerlawfirm.com and phone is 515-371-6077.
https://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.png00Gordon Fischerhttps://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.pngGordon Fischer2016-01-17 17:44:342020-05-18 11:28:59UPCOMING SEMINAR: Monday, January 25, 2016 in Iowa City
Friday, December 18th, 2015, was a historic day in American philanthropy. Congress passed, and President Obama signed, the IRA Charitable Rollover law. This law presents huge opportunities for nonprofits and the donors who fund them.
What does this mean?
The IRA Charitable Rollover allows individuals aged 701⁄2 and older to donate up to $100,000 from their IRAs directly to charities, tax-free.
I break it all down for you.
Learn all about the IRA Charitable Rollover law, with an extended article and video, including case studies.
https://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.png00Gordon Fischerhttps://www.gordonfischerlawfirm.com/wp-content/uploads/2017/05/GFLF-logo-300x141.pngGordon Fischer2015-12-18 10:16:522020-05-18 11:28:59THE IRA charitable rollover federal law
What the Yale Bulldogs can teach us all about estate planning
Estates & Estate PlanningWhat the Yale Bulldogs know . . . .
The unexpected can happen.
Last time the Yale Bulldogs were in NCAA tournament, I wasn’t even born. And yet, just moments ago, Yale pulled off a stunning first-round upset.
Again, the unexpected can happen.
We don’t like to think about shocks in terms of life and death. But a mordant and bad joke among estate planners is that “people don’t always die when they’re supposed to.” Indeed, we all know people that passed away well before their time.
Nothing is promised to anyone. And if you should die without a will, it can cost your family and friends a lot of time, a lot of money, and lots of anxiety and even heartache.
#1 Without a will, probate courts and the Iowa Legislature decide everything about your estate.
If you die without a will, you are leaving it up to the legislature/courts to decide who will receive your property. Or, even, who will get to raise your children.
#2 Without a will, you cannot choose a guardian for your children.
If you die without a will, the courts will choose guardians for your children. One of the most important aspects of a will is that it allows you to designate who will be the guardian for your children. This can ensure that your children are cared for by the person that you want, not who the court chooses for you.
#3 Without a will, the probate court will choose your estate’s executor.
If you die without a will, the probate court is forced to name an executor. The executor of your estate handles tasks like paying your creditors and distributing the rest of your assets to your heirs. Of course, if the probate court has to pick who will be your estate’s executor, there is always a possibility that you would not have approved of that person if you had been alive.
If you have a will, it will name an executor who will carry out all of your final wishes, pay your bills, and distribute your assets just as you wanted.
#3½ Without a will, you can’t give your favorite nonprofits gifts from your estate.
If you die without a will, your estate assets — your house, savings, and so on — will pass to your heirs under Iowa’s statute. If you have a will, you can include gifts to your favorite nonprofits and see that these nonprofits are helped for many years to come
Take control of your future. You can start by downloading my estate planning questionnaire, simply click here.
####
UPCOMING SEMINAR: Monday, January 25, 2016 in Iowa City
Events, NewsEstate Planning and Charitable Giving: The Basics
A seminar presented by Gordon Fischer Law Firm, P.C.
When: Monday, January 25, 2016 from 2:00 p.m. – 3:30 p.m.
Where: Iowa City Senior Center, 28 S. Linn Street, Iowa City, Room 208
–Free and open to the public–
Gordon Fischer will lead the group in three discussions:
Please register by simply emailing name(s) to:
gordon@gordonfischerlawfirm.com or by calling 319-356-5220
A big shout out and thank you to the following sponsors:
Gordon Fischer is an Iowa lawyer with more than 20 years experience. The mission of his law firm is to promote and maximize charitable giving in Iowa. Reach out any time — email is gordon@gordonfischerlawfirm.com and phone is 515-371-6077.
####
THE IRA charitable rollover federal law
Charitable Giving, News, Taxes & Finance***BREAKING NEWS: The IRA Charitable Rollover has been passed by Congress, and signed into law by President Obama. Click HERE now for more information and an extended article.
The IRA Charitable Rollover is permanent law!
Friday, December 18th, 2015, was a historic day in American philanthropy. Congress passed, and President Obama signed, the IRA Charitable Rollover law. This law presents huge opportunities for nonprofits and the donors who fund them.
What does this mean?
The IRA Charitable Rollover allows individuals aged 701⁄2 and older to donate up to $100,000 from their IRAs directly to charities, tax-free.
I break it all down for you.
Learn all about the IRA Charitable Rollover law, with an extended article and video, including case studies.
Sign up now for free and instant access! Click HERE now for more information and an extended article.