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Find answers to common estate planning questions below.

•  What is an Estate Plan?
•  What Can Estate Planning Do For Me?
•  What Are Some of the Myths About Estate Planning?
•  Who Can Help Me With My Estate Planning?
•  What About Estate Taxes?
•  Basic Estate Planning Components

What is an Estate Plan?

An effective estate plan is not constructed on hunches but by carefully examining one's estate. You cannot leave your planning solely to financial advisors, the government, or relatives and hope to be pleased with the results. You are an important part of the process.

An estate plan utilizes the most up-to-date planning tools insuring your legacy is passed on to family and ministries.

The staff of The Baptist Foundation of Alabama can assist you in properly planning for your estate. In addition to one's will, there are other tools available that will help you complete your plans. Whether your estate is large or small, The Foundation can assist you in reviewing estate options.

Click here to learn more about the basic components of estate plans.

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What Can Estate Planning Do For Me?

Carefully constructing your estate plan is crucial for three reasons. First, it allows for the orderly distribution of your property to whom and in what amounts you wish. Second, it enables you to take advantage of several tax reducing techniques that can increase your family's security while making it possible to fulfill your personal objectives. Third, you can insure that the Gospel message continues forward by including a Baptist ministry or cause in your planning.

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What Are Some of the Myths About Estate Planning?

"You have to have a lot of cash, stocks, and assets to need an estate plan!"

Everyone can benefit from estate planning no matter how large or small your estate. If you own a home, land, antiques, cash accounts or other assets, you should consider having a professional with The Baptist Foundation of Alabama talk with you about opportunities to plan for your estate needs.

"I have a will. That should be all I need."

Unfortunately, this is not always the case. Through proper estate planning, one is able to avoid some of the expense and pitfalls associated with the probate process. More importantly, the will does nothing to assist an individual in a time of incapacity or incompetency.

"I can make my plans anytime!"

If we were able to know what our future holds this might be true. However, the Bible teaches that we are on God's timetable for life. We cannot know for certain when the Lord will call us home. We can, however, insure our estate is in order when that time comes. The most recent statistics tell us that more than 60% of us will die without even a basic will in place.

Many Christians have established living legacies through their estate that will assist Baptist ministries until the Lord returns. Call the Foundation today to discuss your estate plan or use the information request form for more information.

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Who Can Help Me With My Estate Planning?

The planned giving staff of The Baptist Foundation of Alabama can assist you in properly planning for your estate. In addition to one's will, there are other tools available that will help you complete your plans.

We will work with your current legal and/or financial advisor(s) to determine the best means for you to make a charitable gift to any Baptist cause. If you are already working with a legal advisor, you may ask him to call The Foundation for information on possible charitable bequests one can make.

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What About Estate Taxes?

Even modest estates may be subject to estate tax. The IRS requires taxes on an estate to be paid in cash within nine months of a death. Your beneficiaries could be forced to sell property in order to raise funds to satisfy the law.

Proper planning can help you reduce and/or eliminate certain estate and gift tax issues.

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* The Baptist Foundation of Alabama is not giving legal or financial advice. You should always contact appropriate legal and financial professionals.