Wills and Bequests

Do you need a will?

Every year, the vast majority of American who die do so without having prepared a valid Last Will and Testament.  State and federal laws provide some significant incentives for the preparation of a Will, making it easy for very personal wishes to be known and followed - wishes that deal with child custody, property distribution and a legacy of values.  A carefully planned Will serves to minimize costs related to settling an estate.  The absence of a Will can have a devastating impact on the survivors, the estate or both . 

Even when property distribution issues are not numerous, a Will is the legal avenue through which a number of issues should be addressed.  In the absences of a Will, the state will resort to a formula.  A judge will name an executor, a bond may have to be posted, the court will name a guardian and a formula will determine asset distribution.

A Bequest

Your Will is your final communication and opportunity to give expression to your personal wishes. With the help of an advisor, you can give a charitable bequest that is part of your written Will or Trust that directs a gift to be made once you pass away.  If you make a bequest, you can continue to use the assets during your life, but your estate would be permitted a charitable deduction once the bequest is fulfilled. Charitable bequests can help save estate taxes by providing your estate with a charitable deduction for the value of the gift.  Best of all, your gift will help Oconomowoc Memorial Hospital achieve its goal of improving healthcare in your community, an act of considerable generosity.

You can make a difference by bequeathing assets through the Foundation to Oconomowoc Memorial Hospital.  Bequests can be a specific amount, a percentage or the residual from your estate -- what is left over after your heirs and other obligations have been satisfied.   Bequests can be unrestricted or restricted to benefit a specific project or Center of Excellence at Oconomowoc Memorial Hospital. Bequests are the most tangible way to leave a legacy to your community and Oconomowoc Memorial Hospital. 

Once you make your arrangements, please let us know. If possible, please send us a copy of your will, so we can thank you properly and include you in the Cornerstone Legacy Society.