I recently bought a used book entitled Living Without a Plan. Before you rush out to purchase your own copy, let me save you some time: It’s a bad idea, especially when it comes to your estate.

What happens with no estate plan?
Most Americans have no written plan for how their assets should be distributed at death. If you die without a will, your loved ones may never know your wishes. Instead, your property will be distributed according to state law. Unfortunately, the plan provided by the laws of your state may have little to do with your wishes or the actual needs of your family.

Look what can happen without a proper will.

Situation #1: You have a husband and a young child.
What happens without a will: Probably half will go to your young child and the balance to your husband, leaving him without the money he needs. Your child’s portion of the estate will likely be tied up in restricted accounts until he or she reaches the age of majority (18-21, depending on your state) when he or she gets the money with no restrictions.

Situation #2: You do not want any of your money to go to your son; only your wife and brother.
What happens without a will: Your estate will probably be divided between your son and your wife, leaving out your brother.

Situation #3: When you die, you promise the house to your daughter for all her devotion, care, and financial support. Your son ignored you for many years.
What happens without a will: Your estate will probably be divided between your daughter and your son. Your daughter may never recover the expenses she incurred on your behalf.

Situation #4: You do not want your assets going to your adult children but to your favorite charity—The Quiet Hour, naturally!
What happens without a will: The state will assign assets to family members first.

Situation #5: Both you and your spouse are in an accident. You die at the scene of the accident; your spouse dies the next day.
What happens without a will: If you have no children, your estate will go to the family of your spouse.

The Bible teaches that we should put our houses in order (Isaiah 38:1) and to provide for the needs of our families (1 Timothy 3:5). Having a good estate plan is an important part of Christian stewardship. “If you have not been trustworthy in handling worldly wealth, who will trust you with true riches?” Luke 16:11 NIV.

We would be happy to help you plan your estate, trust, or other charitable giving. Please call 800-900-9021 to speak with a planned giving specialist or e-mail us for more information.