By Jennifer Kohn Koppel 

The long list of official commemorative months is filled with curious tributes: National Bread Baking Month, National Smile Month, National Novel Month, but National Make-A-Will Month in August is one that everyone should stop and think about.  

Gallup’s latest polling finds that less than half of U.S. adults have a will that describes how they would like their money and estate to be handled after their lifetime. These statistics increase as people age, but wills are important to have in place at every stage of life.  

For people who don’t yet have a will, the team at the estate planning platform, FreeWill, lays out these three reasons to motivate people to write their will this August. 

1. It’s an important legal document that everyone should have. Wills aren’t just for the rich and famous. They make life (and death) easier for everyone, regardless of socioeconomic status.
   
   
2. It provides peace of mind to you and your family. Creating a will prevents family conflict, eliminates confusion, and ensures your assets go to the people you most want to have them. It also gives your family guidance and reassurance that they can fulfill your wishes during what is likely a very difficult time for them. 
3. It lets you create a legacy that lasts beyond your lifetime. Leaving a gift for a nonprofit in your will costs you nothing during your lifetime but will ensure that you can make a positive impact on causes close to your heart for years to come. 

For people who already made their will, take Make-A-Will Month to think about what might need updating. Estate attorneys recommend reviewing wills every three to five years and if there is an important life event including getting married, moving states or having a child or grandchild. 

In addition, double check that beneficiaries are named on non-probate assets like life insurance policies or retirement accounts. People can name a charity as a beneficiary of these assets as another great way to leave a lasting impact. 

Finally, for those who want to preserve their family legacy, they can think about writing an “ethical will” or legacy letter along with their legal will that documents important family stories, values and philanthropic passion to pass on to the next generation. Start this is in August to possibly be ready to share with family over the high holidays.  

To learn more, contact Shalom Austin Jewish Foundation Director and Philanthropic Advisor Jennifer Koppel at [email protected].