5 Steps to Protect Your Family and Your Assets

If you have put off writing your will or deciding who will receive your assets when you’re gone, you are not alone. For most, estate planning can seem like a chore. But—similar to paying the bills or cleaning the house—it feels great when it’s done.

Getting started is often the hardest part, so we have put together a plan to help. Go step by step at your own pace, and soon you will feel the pride and the peace of mind that come from creating something that protects you and your loved ones.

When you also include Bravo! Vail Music Festival in your estate plan, your generosity helps ensure continued access to world-class performances and high-quality music education—not just for a select few, but for everyone in our community, and for generations to come. Please consider connecting your legacy to the future of Bravo! Vail. (See Step 5.)

Simple Steps, Big Impact

Step 1: Tally your assets.

First, your personal data. A solid estate plan should include the following:

• A list of your assets that shows current value as well as title (whether held in your name, jointly or, in certain states, as community property)
• If you are married, a list of your spouse’s assets
• Specifics about any debts and other liabilities
• A list of retirement plan assets and life insurance policies that indicates the owner, and the beneficiary of each
• Names and contact information of your beneficiaries, including relatives and charitable organizations
• The location of your will, powers of attorney and other valuable papers

As a resource, please download our “Guide to Making Your Will.”

Step 2: Make decisions about your estate plan.

Your estate plan paints a picture of your values and the people and charitable causes that are important in your life. An up-to-date will serves as the foundation of your plan, but also important are asset titling and beneficiary naming for retirement plan accounts and life insurance policies.

In this step, you will list each person and nonprofit you would like to benefit. For each recipient, include the gift or percentage you would like each to receive.

Step 3: Pick your team.

Who should fill these roles?

• Executor or personal representative. This is the person who carries out the terms of your will. Choose someone trustworthy who will be comfortable dealing with your finances and investments, taxes and record keeping. Also consider this person’s availability, general health, and diplomacy.
• If you have minor children, name a guardian of each child.
• Agent for your durable power of attorney for finances. Choose someone to act on your behalf in financial matters if you become unable to make such decisions.
• Agent for your durable power of attorney for health care. This person makes choices on your behalf regarding medical care if you are unable to make them.

Step 4: Extend your legacy.

A legacy gift in your estate plan helps ensure the continued vibrancy of Bravo! Vail, not only for today, but for tomorrow and for generations to come. For example, you can name Bravo! Vail as the recipient of a percentage of your estate or retirement account. There can be tax advantages for many planned gifts that extend your caring nature beyond your lifetime. Please take a moment to review our ‘Case for Support.’

If you are considering remembering Bravo! Vail Music Festival in your will or through your estate plan, we would be happy to meet with you to help answer any questions you might have, with no obligation.

Step 5: Share the good news.

Ensure that any recipient of your generosity knows of your plans. This will make them aware of your intentions and will relieve undue stress in the future. If your plan also includes a legacy gift for Bravo! Vail, please let us know. You will be helping us Build a Bridge to the Future.

Congratulations! You have taken the time to ensure that your family and favorite causes are cared for far into the future. Continually review your estate plan whenever major life changes or tax law changes occur, to make sure it is still the best plan for you and your family.

Are You on Step 2?

Contact Jason Denhart at jdenhart@bravovail.org or 970.827.4305 to learn how you can support our world-class music festival with a gift in your long-term plans.