A Guide to Planning Your Legacy

PLANNING YOUR LEGACY AT HAVERGAL

Current Will

As you reflect on your legacy and begin to prioritize your bequeathing decisions, we want to express our appreciation to you for considering Havergal College. Many of our alum agree that their Havergal experience shaped their future. Having been provided with a strong foundation beyond curriculum, they discovered their full potential. Including Havergal ensures your legacy of placing emphasis on the education of young women and building strong foundations and futures where they learn to make decisions and continue to be critical, creative thinkers and doers. Here, information is provided to help you better understand how a will supports your legacy wishes. Your will is a written document, signed by you and your witness and should be notarized. If you pass away without a will, your estate is considered “intestate.” The government, as opposed to your family or those you prefer to manage your estate, will intervene and appoint guardians for minor children, and determine the disbursement of your assets, personal property and items precious to you. For this determination and disbursement of assets, your estate will be charged a fee. When tax planning instructions are not indicated in a signed and dated will, the estate is at risk of being taxed at the highest possible amount and many of the government’s decisions may be contrary to your desires. With a valid will, you are able to choose who is to inherit your property and who will administer your estate as executor or personal representative. If you have minor children, you can choose a person to raise your children. With a trust, you are permitted to decide who will manage the trust for family members. A valid will is an essential part of transferring your property at the right time to the right people at the lowest cost. Without a valid will, your family may encounter increased costs, delays and unnecessary conflicts. With an updated will and sound estate plan, you can provide a wonderful legacy for family, friends and organizations or causes that are important to you.

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