Financial advisors

usually advise their clients to review their Beneficiary Designations on a regular basis. The reason for this is to make sure that your assets will go to the right people if something should happen to you. Whether you own Life Insurance or Retirement Accounts or Annuities or 401K's you have named beneficiaries for those accounts and you need to review that information, especially if there have been changes in your family like divorce, death, birth of a child or grandchild. You may have just changed your mind about who should inherit your assets and need to change your Beneficiary Designations accordingly. This is not difficult to do and for many people this can be done online.

There are ways of making financial gifts to the church in tax- efficient ways that do not involve rewriting or making changes to your will. For example, if you designate First Congregational Church as a beneficiary to your retirement account, you can avoid income and estate taxes that might otherwise apply.

It is worth discussing with your financial advisor whether it would be advantageous to name the church as a beneficiary to your retirement account and to leave other, less heavily taxed assets to family members or friends. Please give some thought to looking into these tax-advantaged strategies for your assets. Trustees can help you with this if you prefer. Contact