To view how a specific plan might work for you please click on www.FCGifts.org. We have partnered with Crescendo Interactive, Inc. for this website and on it you can find complete online planned giving resources. You may create an illustration for a specific plan, read donor stories, view videos about estate planning, get current news from Washington, read tax and finance news, receive newsletters and even securely submit information for your own Last Will and Testament online.
Basic Estate Planning
We also have trained personnel at Planned Giving and Trust Services to assist our members with their stewardship objectives and estate planning. Please contact us for information regarding the Basic Estate Plan which consists of the following documents:
Last Will and Testament—the Last Will and Testament contains an individual’s formal instructions indicating the disposition of property (estate) at death:
- A will should be drafted by an attorney knowledgeable in estate planning.
- Property ownership is not affected by the will during lifetime since a will does not become effective until the testator’s (individual’s) death.
- Specific items of property need not be mentioned in the will, as an estate can be distributed by shares or percentages, thus the sale or acquisition of property does not necessarily require changes in the will.
- The testator’s choice of a personal representative for the estate can be designated in the will, as well as the designation of a guardian for the testator’s minor children.
- Upon the testator’s death, the personal representative, represented by an attorney of choice, is appointed by the probate court. The personal representative then has the responsibility of collecting the decedent’s assets and distributing them in accordance with the will. The administration of the estate is then carried out under the supervision and direction of the probate court.
- A will can be changed or entirely redrafted at any time.
Power of Attorney—a power of attorney is an instrument authorizing another to act as one’s agent or attorney in fact. This instrument is revoked upon the death of the principal by operation of law. Such power may be either general or specific. It is used primarily for business transactions. Extreme caution should be used when designating the power of attorney.
Health Care Surrogate—A health care surrogate is a document which designates and authorizes another person to serve as one’s agent to make health care decisions when that person is unable to make those decisions.