WV Farm Bureau Magazine June 2015 | Page 21

Planning Ahead
Deborah Miller, JD, Sr. Director of Planned Giving, West Virginia University Foundation
After all of the appropriate
documents are signed and
you let out a sigh of relief,
one additional aspect of estate
planning is communicating your
ideas and plans to loved ones.
Rather than taking the stance of “they’ll figure
it all out when it’s time,” it can be more helpful to go
over what you want to have done with those who will
be involved.
This can be difficult to do, but discussing your
medical and financial power of attorney documents,
your funeral planning, and your choices for medical
care can help your family understand what you want
and why. It is appropriate to provide originals or
copies of the documents. Keeping it all “top secret”
can lead to misunderstandings and conflicts later on.
Also, choosing to explain the content of your
will or revocable trust can be beneficial, especially to
those who will serve as your executor(s) or successor
trustee(s). They may have questions that allow you to
clear up your intent.

Providing personal insights about your plans can
show others that you have chosen wisely, and they
can understand your priorities better. Knowing that
your plans will be honored can provide peace of mind
to you.
That’s good planning.

Editor’s note: After 20 years,Deborah Miller
will be retiring from the West Virginia University
Foundation. We thank her for her valuable
contributions to this publication, and wish her well.
Cheers, Deb!

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It is helpful to discuss what assets will be a part
of your estate to be sure any specific directions you
want to give are passed on.
Asking these individuals you communicate with
to keep your plans confidential, since the documents
can be changed, is fine to do.
Your charitable beneficiaries will definitely
appreciate your letting them know of the future
gifts you have planned, and this will give them the
opportunity to express their gratitude to you.
To make things easier later, you should have
a list of where important papers, including deeds,
checkbooks, financial account statements, tax returns,
and the like, are located. Adding your computer and
website passwords and location of keys can help then.

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tough for hauling, loading, digging, and plowing jobs. But it’s easy to operate, offering two different transmissions

that make it more like driving a car. With six models, the 1700 Series is ideal for small mixed and specialty farms,

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© 2013 AGCO Corporation, 4205 River Green Parkway, Duluth, GA 30096 [phone]. MF13C026TCG

West Virginia Farm Bureau News 21