Ladies Only: A Woman’s Guide to Estate Planning

A 4-Point Plan for Your Future Success

Helen Yosef, 21; Natnael Yonas, 1. Ginchi, Ethiopia 2014

Helen Yosef, 21; Natnael Yonas, 1. Ginchi, Ethiopia 2014.

Photo credit: Jordan J. Hay

Ladies Only: A Woman’s Guide to Estate Planning

A 4-Point Plan for Your Future Success

According to a study by the National Center for Women and Retirement, 80 to 90 percent of women will make financial decisions on their own at some point in their lives. Whether single, divorced or widowed, having an effective estate plan is part of being independent. Estate planning not only ensures financial stability during your lifetime, but also allows you to choose how your assets will be distributed after your lifetime. Here are four key elements of a successful estate plan that anyone can follow.

1. A Will

  • Ensures that your assets will be distributed the way you intend.
  • Allows your dependents to receive the care and financial security they need.
  • Gives charitable organizations like Save the Children your support into the future.

2. Life Insurance

  • As a general rule, should be equal to five times your annual salary.
  • Covers your family’s financial obligations, goals and everyday expenses.
  • Should be enough to pay off mortgages, other liabilities and final taxes.

3. A Living Trust

  • Avoids probate for your estate.
  • Appoints a trustee of your choosing to handle your affairs.
  • Provides care for another individual, a disabled spouse or child, and appoints a guardian to care for the individual and take care of his or her financial needs.

4. Charitable Gifts

  • Provide ways to reduce taxes and can be given now or later.
  • Support a future for the children we serve.
  • Connect your legacy with the organizations and causes you care about the most, such as Save the Children.

Start Planning

When making your estate planning decisions, you will benefit from the counsel of your legal and tax advisors. If you would like to include Save the Children in your plans, we would be happy to help you discuss ways you can secure the greatest benefit for yourself and us, with no obligation.  

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