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Making a Lasting Contribution

As a general rule, most of us spend our lives acquiring personal property, saving for our children’s education, paying off the mortgage and building financial security for our retirement years. We are usually too busy planning our lives to think about death. But it is important to plan for the final distribution of the assets it has taken you a lifetime to build.

Making a will is about protecting your loved ones. Without a will your best intentions and promises made, might not be realized. The value of having an estate plan can be measured in peace of mind for you and your family, as well as savings in tax dollars for your estate.

When thinking about preparing a will, most want to be sure that they can provide for the needs of their loved ones. But what people may not consider are the possible tax consequences to this decision. If you had a choice to give a portion of your estate to the government in taxes or to a charity, which one would you prefer? The answer is probably obvious. Including a charity in your will, like the Woodstock Hospital Foundation, could be a real benefit to those who are interested in providing for their loved ones, leaving a legacy to their community and limiting their estate to the exposure of estate taxes.

Making a legacy gift is easy. Donors can choose to leave a charitable bequest in their will or through a gift of life insurance. 

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