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Your Will: Getting Started
What Your Will Can Do
Why do you need a will? Because it allows you to:- Direct the division of your property the way you choose—not the way the state decides.
- Make special financial arrangements for your family members who are minors, disabled or unfamiliar with money management.
- Name a guardian for your minor children.
- Select an executor (personal representative) who is well-qualified to settle your estate promptly and economically, with careful attention to your wishes.
- Provide vital support for your favorite charitable institutions. Learn more about making a gift to us through your will.
- Devise an estate plan, with the help of a qualified attorney and other advisors, to minimize the taxes on your estate.
- Just a few sentences in your will are all that is needed. The official bequest language for The University of Mississippi Medical Center is: "I, [name], of [city, state, ZIP], give, devise and bequeath to The University of Mississippi Medical Center [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
You Need a Will
Everyone needs a will, no matter if he or she is young or old, sick or healthy, single or married.
If you leave this world without a will, your assets will be distributed according to state law and your wishes will not be fulfilled. Likewise, having an outdated will also means that your current intentions will not be carried out. So when change occurs in your life, remember to update your will.
Learn more about basic estate planning.
Contact your estate planning attorney for more information on wills. To learn how to include a gift to us in your will, please contact Mary W. Hagaman at (601) 984-2300 or mhagaman@umc.edu.
Your Next Steps
Getting Started | 4 Steps to Your First Will | Case Study | When and How to Update Your Will | What Your Will Can't Do | How to Find an Estate Planning Attorney | Action Items
Copyright © The Stelter Company, All rights reserved.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.
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