August is here, bringing the perfect opportunity to check off one of life’s most important “to-dos”: writing or updating your will. Whether you’re just starting to consider estate plans or revisiting them, National Make-A-Will Month is your yearly reminder to take this meaningful step for yourself, your family, and your community, as only around 30% of adults across the nation have wills drafted.
Why create a will?
- Peace of mind: A will ensures your loved ones and the causes you care about are supported according to your wishes.
- Control: Decide how your assets are distributed rather than leaving decisions up to state laws.
- Legacy: Make a lasting impact beyond your lifetime and shape the future of your loved ones. You can also support organizations like Habitat for Humanity DC-NOVA as a meaningful way to ensure your values live on.
Creating a will and outlining clear steps to take concerning your wealth is a vital action to take for people of all ages, not only the elderly. Life is unexpected, and planning for it can aid in times of uncertainty. Drafting a will or trust not only ensures the care of your legacy but also provides markers of impact on the futures of your loved ones. Controlled transfer of property and generational wealth are built by careful and thoughtful preparation. People of all ages and wealth classes need to take the reins about what to leave behind, as even small gifts can have large impacts on their recipients, whether they be individuals or communities.
How to plan
Ways to write a will:
- Start online: use a free, trusted online tool such as FreeWill.com to create a legal will or to outline your wishes before seeing an attorney
- Seek out professional advice: learn how to choose an estate planning attorney to help you with the legal mechanics of future planning
What to think about:
- Reviewing existing plans: if you already have a will, Make-A-Will Month is a great time to review and update it, especially if your circumstances have changed
- Taking stock of your assets (including but not limited to: real estate properties, bank accounts, businesses, retirement accounts, jewelry and collectibles, sentimental items)
- Choosing an executor and heir
- Appointing guardians for minor children
- Selecting your heirs (individuals and organizations)
Planned Giving: extend your legacy of hope
Consider leaving behind a lasting, influential impact on your community through planned giving at Habitat DC-NOVA. Planned giving, including bequests, trusts, and beneficiary designations, is for everyone, not just the wealthy. Even a small percentage of your estate can make a significant difference for families in need of affordable housing. Every legacy gift is deeply appreciated and helps reduce barriers to homeownership in our region.
Ways to give through your will
- Name Habitat DC-NOVA as a beneficiary in your will or trust for a specific amount, percentage, or asset
- Designate Habitat DC-NOVA as a beneficiary on retirement accounts, life insurance policies, or bank accounts
- Explore other options like charitable gift annuities, remainder trusts, or gifts of real estate and securities
- Learn about how Qualified Charitable Distribution from your IRA can benefit you in reducing taxable income
- Take a look at helpful language:
“I bequeath (amount OR percentage) to Habitat for Humanity of Washington, D.C. & Northern Virginia, Inc., a nonprofit corporation organized and existing under the laws of Washington D.C., with the principal business address of 4245 Fairfax Dr #650, Arlington, VA 22203 and federal tax identification number 52-1589700.”
Get started
Every August, Make-A-Will Month inspires thousands to take this step, resulting in millions of dollars dedicated to meaningful, lasting change through planned gifts nationwide. By including Habitat DC-NOVA in your estate plans, you join a forward-thinking community that believes everyone deserves a safe, stable place to call home. Visit our Planned Giving page for resources and suggested will language.
We will be hosting a Planned Giving Workshop in the fall. We will go over wills, donations, and how to make comprehensive plans for the future. Stay tuned for more information on our events page or socials. We hope to see you there!