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Planned Giving

Estate Planning for Singles


When it comes to estate planning, being single doesn’t mean you’re off the hook. You still need to plan for the future, even if the present doesn’t include a spouse or partner. Here’s why: If you were to die without a will, the state in which you live would decide the fate of your assets. The people and causes you care about might not be provided for.

Read more . . .

And, for additional information concerning Diocese of Baton Rouge Planned Giving options, please visit the “Plan My Legacy” page through the Office of Stewardship website:http://officeofstewardship.planmylegacy.org

Estate Planning for Singles

 

3 Steps to a Solid Estate Plan

 

When it comes to estate planning, being single doesn’t mean you’re off the hook. You still need to plan for the future, even if the present doesn’t include a spouse or partner. Here’s why:

If you were to die without a will, the state in which you live would decide the fate of your assets. The people and causes you care about might not be provided for. And if you were to become incapacitated, decisions about your health and finances could be left to strangers.

Don’t leave these important decisions to chance. Follow the steps below to create a simple but solid estate plan.

 

1. Create a Will

 
A will is the centerpiece of your estate plan. It designates how your assets should be distributed after you’re gone and is a reflection of what was most important in your life. With a will you can provide for loved ones and organizations you care about, organizations like the Catholic Diocese of Baton Rouge.

 

2. Review Beneficiary Designations


The persons or organizations you name as beneficiaries of your life insurance policies, retirement plans, and other accounts will receive these assets regardless of what your will specifies. Make sure you update these documents whenever you experience a life event such as a divorce, death of a loved one, birth or adoption.

 

3. Draw Up Powers of Attorney


It’s essential you have legal documents in place that specify who can make important decisions should you become incapacitated. Unmarried partners or friends can’t make these decisions without legal authorization. Requirements vary by state, but generally a durable power of attorney covers financial matters, and a living will or health care declaration address health care issues.

 

Use Your Plan for Good

 

If you have few family obligations to plan for after your lifetime, consider including the Catholic Diocese of Baton Rouge in your estate plan. It’s a flexible way to make a lasting impact at the Diocese of Baton Rouge. Contact Tammy V. Abshire, CFRE at 225-242-0108 or  This email address is being protected from spambots. You need JavaScript enabled to view it.  to learn more.

Stewardship Today is a monthly devotional newsletter designed to assist Catholics everywhere in developing a greater understanding of the role of stewardship in everyday life.
All we are, and all we possess, are gifts from God for our use and for the blessing of others. Through wise stewardship, we invest our time, our talents and our treasures to the glory of God.

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