Why every woman needs an estate plan
11/02/2020
A solid plan allows you to create a
legacy that protects yourself, provides
for the people you cherish, and ensures
support.
According to the National Center for Health Statistics, women in the United States can expect to live to about age 81, approximately five years longer than men. Whether you are single or married, independent or surrounded by loved ones, having an estate plan is important.
A solid plan allows you to create a legacy that protects yourself, provides for the people you cherish, and ensures that support for your most important charitable organizations like Banner Health Foundation or Banner Alzheimer’s Foundation will continue after your lifetime.
Key parts of your estate plan include:
- A will: Your will ensures your assets, such as money, property and even personal items, such as antiques and jewelry, are distributed the way you intend. You can also name a guardian for any minor children.
- Powers of attorney: A health care power of attorney allows you to appoint a person to make medical decisions on your behalf should you be unable to do so. It is also a good idea to have a durable power of attorney for financial matters who can act in your stead should you become incapacitated. They can be the same person, or you can select two different people.
- Life insurance: Having a life insurance policy that can cover your debts helps ease the burden on your family. It’s important to have a policy large enough to cover all your debts, including your mortgage and outstanding loans.
Build and expert team
If you’re ready to start planning your future, be sure to partner with experts. Though do-it-yourself planning can be tempting, having an estate planning attorney and financial advisor helps you make sure your future plans do exactly what you want them to.
We can help
By planning your estate now, you not only support your loved ones, but ensure the organizations you care about, like ours, continue to receive your support as well. Contact Laurie Susie, Chief Development Officer for Planned Giving, at Laurie.Susie@BannerHealth.com or by phone at 602.747.4485 today to learn more about including Banner Health in your future plans.
The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.