Estate Planning FAQs
What is an estate plan?
An estate plan is a collection of documents that help organize what happens to you and your assets upon your disability and death. Every adult, no matter your age or your net worth, should have an estate plan. Having an estate plan ensures your wishes will be honored with respect to who will make medical decisions for you if you are not able to make them yourself and who will receive your assets such as your bank accounts, personal property, and real estate. Your estate plan is comprised of documents such as a will, trust, and/or advance health care directive.
Why do I need an estate plan?
Having an estate plan ensures your wishes will be honored including having your assets go to the people and places you choose. If you do not have an estate plan, state law will determine who receives your assets.
How do I make or change my estate plan?
Our free estate planning guide provides guidance on how to create or change your estate plan. Generally, to get started you need to consider your assets, beneficiaries and goals. It is always a good idea to consult an attorney who can advise you on your particular circumstances and how best to achieve your goals including ways to potentially save money and taxes. If you've recently had a big life event such as getting married, divorced, or a birth or death in the family, you may want to review your estate plan and make any necessary updates.
How can I use my estate plan to support Renown Health Foundation
There are many different ways you can include Renown in your estate plan. For example, you could include a bequest to Renown Health Foundation in your will or trust, or name Renown Health Foundation as the beneficiary of a retirement or financial account. Visit our Ways to Give for more information.
What are the benefits of making a charitable gift through my estate plan?
- Perpetuate your value: Your will or trust allows you to create a bequest that reflects the values you hold dear.
- Retain control of your assets during your lifetime: Generally, you can modify your gift if your circumstances change.
- Take advantage of tax laws that help preserve your estate assets: A well-designed plan can result in your estate paying less tax, allowing you to leave more for your beneficiaries.
How do I name Renown Health Foundation in my estate plan?
If you wish to name Renown Health Foundation in your will, trust or estate plan, Renown Health Foundation should be named as:
Renown Health Foundation, a Nevada nonprofit corporation, located at 1155 Mill St., Mailstop O2, Reno, NV 89502. Renown Health Foundation's tax identification number is 94-2972749.
Sample bequest language may be found here.
I've included Renown Health Foundation in my estate plan—is there anything else I need to do?
Thank you for including Renown Health Foundation in your plans! Please let us know so we can thank you and welcome you to the Renown Legacy Society . Legacy Society members are a special group of donors who receive invitations to exclusive events, are mentioned in publications (unless you wish to remain anonymous), and receive other unique benefits.
