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You are seriously considering doing something about an important matter. It's why you're reading this material. Either you believe that you should have a will or you think it's time to review the will made a few years back. In either case, you deserve assistance.
The purpose of this material is to encourage you, to provide information that will be of some help to you, and to suggest some of the things you can do in preparation for having your will prepared.
Simply speaking, a will is your plan for the assignment of the properties you possess at the time of death.
You have worked hard to accumulate these properties, and have given them the best of care. You now have the opportunity and the responsibility for seeing that the property goes to those you want to have it, either directly or indirectly, as you believe best.
The state in which you reside has made a will for you. It probably will not accomplish what you had intended to do, and it might bring frustration, distress, and added expense to those you love. Each state has a will that fits the average person.
You are not, however, the average person. You have your own family members and friends, your own hopes and dreams, your own values, your own particular interest, and your own properties. So why not make a will of your own that includes provisions for all of these?
Six Steps To Peace Of Mind:
- An old adage says that any worthwhile journey starts with the first step. The first step is to make a conscious commitment to write or review your will. Say to yourself over and over again if necessary: "I'm going to do it; I've put it off long enough."
- Write down your objectives and make a list of those things that are important to you: family, friends, church, school, hospital, Fraternity, etc. You may wish to set up a file folder in which to keep these materials. You will begin to get some real satisfaction as you realize the importance of what you are doing.
- Make a list of who is important to you. This list may include your spouse, children, grandchildren, other relatives and cherished friends. List each one separately and think of their individual needs and circumstances. Make notes on what you want to do for each one. This should be a continuing process, and you will be adding information as new thoughts come to you.
- Do the same for the institutions and organizations that have been important to you and to family members. Many of these (churches, hospitals, colleges, Fraternity, etc.) have been helpful to you because someone before you made sure they were there. You can do the same for generations to follow.
- Prepare a list of all your material assets:
- real estate
- cars/boats
- investments
- bank accounts
- pension
- business interests
- jointly-owned property
- life insurance
- personal property, such as jewelry, furniture, silver, china, antiques, etc.
You might want to begin to put the names of certain individuals beside personal items. Do this because you want them to have those items or because you may already have told them that someday those items would be theirs.
- Make appointment with an attorney. It is advisable to have an attorney in order to assure that the will is correctly prepared and all of your plans are carried out according to your wishes. If you don't have an attorney, you can call your local American Bar Association or ask a friend or associate to recommend an attorney. When you meet with your attorney, take along the materials you have been preparing. This will help save time and money.
There are other facts your attorney will need, such as:
- names
- birth dates
- social security numbers
- addresses
- spouse's name
- marriage date and place
- financial data
- property holdings
- who you want to be your personal representative
The cost of an average will is usually between $100 and $200. A more complex will that includes creating trusts and accounting for substantial properties will cost more. Whatever the investment, it could be far less than the losses that will eventually occur through taxes and expenses if a will is not made. Attorney's fees are based largely on the time required to gather information and to draw up the will. The cost can be substantially reduced by gathering the information suggested through the six steps.
You've spent years building up an estate, being an important part of a family, living and benefiting from your community, its people, and its institutions. Isn't it worth a few hours of time and a few dollars to make sure that you, and not someone else, determine what happens to your estate? Your own peace of mind and satisfaction of achievement will make it all worthwhile. If we can be of further help, or if you would like additional information about the Beta Sigma Psi Educational Foundation, please contact us. We will be more than happy to assist you without obligation.
Consider a bequest to the Beta Sigma Psi Educational Foundation...
As a man walks barefooted through the sands of the ocean shore, he leaves footprints showing that he has been there, but the next wave smoothes the sand again and erases the evidence that he passed that way.
As brothers of Beta Sigma Psi, we can provide everlasting evidence that we passed this way by making a bequest to the Educational Foundation for the support of its many important programs.
| I hereby give, devise, and bequest to the Beta Sigma Psi Educational Foundation, an Illinois not-for-profit corporation, [insert here the sum or description of property] to be used for the benefit of said Foundation in such manner as the Board of Directors thereof may select." (or for said Foundation's Endowment.) |
A Codicil provides a way of adding to an existing will.
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"I _______________, hereby amend my Last Will and Testament, executed on the _____ day of __________, in the year of _____. I direct that all provisions of that Will remain in effect, but direct in addition that the Beta Sigma Psi Educational Foundation, an Illinois not-for-profit corporation, shall receive [insert here the sum or description of property] to be used for the benefit of said Foundation in such manner as the Board of Directors may direct." (or for said Foundation's Endowment.) |
Voluntary contributions and volunteer efforts are what make the programs of the Beta Sigma Psi Educational Foundation work for our members and their chapters.
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