Estate planning is an important step in taking care of the people and causes you love. No matter the size of your estate, a detailed plan will ensure that you – and not the state – decide how your assets are distributed.
What is estate planning?
Estate planning is the process of organizing an individual’s personal and financial affairs today while planning how their property will be distributed and used upon their death. Estate planning is used to ensure that your wishes are honored and that the things you love – family and charity – are taken care of even after you are gone.
What is included in my estate?
Your estate is made up of all the assets you possess at the time of your death. This could include cash, property, retirement plans, life insurance benefits, securities, and real estate.
Why should I plan my estate?
Estate planning ensures that you have the power to decide who benefits from your estate and how. Without a will, your assets will be distributed according to state law. Estate planning can also help you maintain control of your assets during your lifetime and avoid taxes – leaving more of your estate to your loved ones after you pass.
When should I plan my estate?
Common milestones at which people start estate planning include purchasing a home, getting married, having children and retirement. Major life changes that impact your assets or the loved ones you provide for may be good times to update your estate plan as well.
How do I add a charity to my estate plan?
A simple way to add charities to your estate plans is through a bequest in your will. A bequest names Alex’s Lemonade Stand Foundation (ALSF) and/or other charities as beneficiaries. You can choose to allocate a specific dollar amount, a percentage of your estate or a residual amount after other bequests have been paid. There are many free online services that provide a will template, though it is recommended to consult an attorney or financial advisor.
I want to add Alex’s Lemonade Stand Foundation to my will. What information do I need?
Please use the following legal identification when naming ALSF as a beneficiary:
Alex's Lemonade Stand Foundation for Childhood Cancer
333 E. Lancaster Avenue #414, Wynnewood, PA 19096
Tax ID Number: 56-2496146
This will help ensure that your gift is distributed where you intend it.
I already have a will. Is it too late to add a charity?
No, you may make amendments to your will with a codicil. A codicil is a written document that allows you to make changes to your will without having to rewrite the original. You can use a codicil to change your executor, name beneficiaries, change gifts to a beneficiary, or update your guardian selection if you have children under 18. You can find a sample codicil here .
What other methods can I use to include charitable giving in my estate?
You may name Alex’s Lemonade Stand Foundation and/or other charities as a beneficiary of your life insurance policy, retirement plan, and stock and investment accounts. Contact your account administrator and ask about Transfer on Death (TOD) or beneficiary designation forms. Choose to designate all or a percentage of your assets to the causes you care about most.
By including Alex’s Lemonade Stand Foundation in your will or other estate plans, you will make a difference for kids with cancer for generations to come. For more information on how to include ALSF in your estate plans, please contact Lexi Gratton at [email protected].
Estate Planning Guide
To help you get started, we are pleased to offer you our free Estate Planning Guide, created to help you consider difficult questions, organize important information and establish your legacy.
Alex’s Lemonade Stand Foundation is not engaged in any legal or tax advisory service. The purpose of AlexsLemonade.org is to provide financial planning information only. We advise you to seek legal counsel when considering gifts during and after your lifetime.
