Oklahoma Baptist Homes for Children

 
Neal Wooldridge

a word from Neal Wooldridge
Vice President for Planned Giving

When the Economy Changes

The economy goes up and the economy goes down, and your estate plan gets caught in the middle. If you find yourself with assets worth less – or more – than they were when you prepared your will or created a trust, it may be time to review your estate plan.

Assets Changing

If you’ve earmarked certain assets, like stock to your son, or real estate to your daughter, or other assets to other family members or heirs, and one asset has either significantly increased or decreased in value, you may need to rethink the way you’ve divided them. Instead of leaving specific assets to each heir, you may desire to divide the remaining estate in equal shares, which will fluctuate with the economic swing of the economy. That way, if one asset is worth more than another, your estate will still be divided as you’ve planned.

Charitable Giving Revisited
  • If you’d planned on giving assets to a charity, like OBHC, you need to review the gifting amount and make appropriate changes either up or down on the gifting clause.
  • Your documents should be reviewed every two years.
  • Making your estate plan flexible may help it weather changing asset value in the future.

If you desire a free planned giving review, please contact Neal Wooldridge, at (405) 570-9836 or e-mail Neal Wooldridge to assist you with your planned giving needs


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