Q. Isn’t estate planning only for the wealthy?

A. Every adult should have an estate and financial plan — whether the estate is large or small. An estate plan is not just for the wealthy, nor does estate planning only refer to what happens following your death. A sound estate and financial plan will help you achieve your present and future goals for good Christian stewardship.

Q. Does an estate plan involve more than having a will?

A. A will is the first and most important step in an estate plan, but it is not the only step. A will states what is to happen to your probate estate after your death. There are also other arrangements that can be used to supplement your will.

Q. What other arrangements besides a will can be part of an estate plan?

A. An estate plan can include trusts, life insurance and other financial agreements. Financial and health care power of attorneys should be a part of everyone’s planning. Planned charitable gifts can also be part of an estate plan, especially when they benefit you, your family and charitable organizations that exemplify your Christian beliefs.

If you would like more information about wills, estate planning or planned gifts, please contact The Baptist Home.