It is important to review and update your will on a regular basis.
The saying goes: "Life is what happens when we are busy making other plans." As the season of renewal, spring is a good time to reflect, renew and clean everything from our home to our finances. This season is a perfect time to review important documents too, such as your will or estate plan, as well as your 401(k) and life insurance policy.
Our lives are constantly changing — your will or documents need to be updated periodically to reflect such life changes as:
- The birth of a child or grandchild
- The death of a beneficiary
- Divorce or remarriage
- An inheritance
- The purchase of a new asset such as life insurance, or a new home.
- A bequest to an organization to commemorate someone you love or to provide support and recognize the work of your favorite charity.
If you have included The Nature Conservancy as a beneficiary of your estate plans please let us know.
Tips for Updating Your Will
- Take stock of all of your assets. Consider any new investments, real estate, business assets, retirement plans, insurance and personal property. Then, decide if you have any changes to what you want to do with these assets and to whom you wish to leave them.
- Meet with your attorney. Your attorney will advise you on which assets are best left to family, friends or charity from a tax and legal perspective.
- If you chose to leave part or all of your estate or assets to the charity of your choice, make sure you have the correct language in your will. See legal language for leaving The Nature Conservancy in your will.
- Make sure someone knows where your original will or trust is located, and has access to that location. Also give this person or persons a copy of your will or trust.
- Destroy invalid wills or trusts as directed by your attorney.
Just beginning to create your will? See tips on creating your estate plan.
Have you named The Nature Conservancy in your will? Let Us Know Your Plans!
Legal Language and Tax ID
If you wish to name The Nature Conservancy in your will or estate plan, we should be named as:
The Nature Conservancy, a nonprofit corporation, organized and existing under the laws of the District of Columbia, with principal business address of 4245 North Fairfax Drive, Suite 100, Arlington, Virginia 22203-1606.
Our tax identification number is: 53-0242652
Making a gift to The Nature Conservancy through your will or revocable living trust is a simple way to support the Nature Conservancy’s mission. If you have chosen to include The Nature Conservancy in your estate plans, please let us know!
If you have questions about making a gift to the Conservancy through your estate plans, contact our gift planners today.
March 06, 2012