For those in Lee County, Florida who do not have family or close friends, estate planning might not seem like something that is very important. Some may wonder what it really matters where their money goes after they’re gone if they do not have loved ones to worry about. However, leaving your estate to charities or foundations of your choice can be a great way to leave your mark on the world and ensure that the causes you care about can continue to operate and help others.
This is the case for a farmer in Iowa who died recently. The man left his estate to many local churches, leaving community members amazed at his charity. In total, he gave the churches his farmland valued at $10 million. His lawyer was able to deliver the news to the priest of a local parish following the man’s funeral there.
The man was someone who evidently enjoyed his privacy and kept to himself. He also did not have any family, so leaving his estate to the churches in his area was a great way to keep his legacy alive. The churches will be able to use the money to help them improve and expand their services to the community.
If you are interested in learning how to set up an estate plan that includes leaving part or all of your estate to charities, you would be well advised to speak to an attorney experienced in the estate planning process. For those who are interested in their bequeathals remaining anonymous, a lawyer can help to ensure they will be.
Source: Beef Magazine, “10 Estate Planning Tips; PLUS: How One Farmer Gifted His Estate,” Amanda Radke, Feb. 20, 2014