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Financial Planning -- A Guide For Disaster Planning

Will You?

Okay, so you are a Red Cross Volunteer…that’s GREAT! Oh! You are a board member? That’s a volunteer TOO! Maybe you are a donor, FANTASTIC! But, are you “Red Cross Ready”?

There are many things that help to be “Red Cross Ready”. Do you have that fire escape plan for your home with smoke detectors and fire extinguishers in place and checked for operation? What about First Aid and CPR…did you take the courses? There is a lot to think about and a lot to plan. Maybe you have handled all of this and you are a superstar of planning for you and your loved ones.

Maybe…but whether you are that superstar or not; there is one plan that 70% of Americans ignore until it is too late. That’s right 70%! That is the number of Americans who die each year without an estate plan. What happens to your loved ones when you are gone? Maybe nothing, maybe everything; the question is, “do you know?”

If you are the parent or guardian of children under age 18, who will care for them if you are not there? A valid Will can insure that the person or persons that you want to handle those duties are the ones named to do so. The same can hold true for those who are caring for elderly parents or relatives. And, yes, you can decide who gets whatever it is that you have to give away. You can even decide, to a certain extent, how they receive it…all at once or a little at a time through a trust. There is a lot you can do with a Will but in order to do so, you need a Will. Do you have one? Shouldn’t you? Will you?

There are other methods to handle your estate plans as well but the corner stone is a Will. It’s also something that should be updated to express your current life situation at least every five years.

Also, you can name a charity or charities, such as the Red Cross, in your Will, if you so choose. This would be one more way to help others be “Red Cross Ready”. Everyone who receives American Red Cross services will benefit from such a provision in your Will and the gift may also provide for an estate tax deduction. Another advantage of such a gift is that you can change it at any time.

If you should choose to do so, the following language may be helpful when making a gift by will: I give, devise, and bequeath to the American National Red Cross, Washington, D.C. and/or the San Antonio Area [Code # 43746] Chapter of the American Red Cross, San Antonio, Texas, the sum of $______________ (or otherwise describe the gift or specify a percentage of the estate.

Please note that nothing contained herein is nor should it be construed as legal, financial or tax advice. For legal, financial and tax advice, please contact your personal attorney or other financial advisor.

The American Red Cross is always pleased to learn of such gifts. To advise of such a gift and/or to discuss this or other planned gift opportunities, please contact:

John Benage, CFRE
Planned Giving Officer
benagej@usa.redcross.org
(210) 376-0447
3642 E. Houston St.
San Antonio, Texas 78219-3830
 

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