We asked OWU alum David Ferris ’73, for his advice to those considering their own estate planning needs.
“As an estate planning attorney for over 40 years, I’ve learned some valuable lessons, including the most crucial: the importance of having an estate plan. Regardless of the size of one’s estate, having an estate plan gives direction to those who will carry out your wishes.
“Without an estate plan:
- Family or friends are left without a map containing clear directions to follow.
- Settlement of the estate is delayed and results in additional costs (including additional taxes).
- This opens the possibility of family fights and expensive court intervention to make key decisions.
- State laws provide a default plan, which probably won’t match your wishes, including the ability to benefit the specific family, friends, and organizations you care about.
“Make an estate plan to benefit your family, friends, and favorite charities, and give yourself—and loved ones—peace of mind. It’s given me the comfort of knowing during my lifetime that after I'm gone I will benefit those I most care about and value, including OWU!”
We appreciate David sharing his expertise with our OWU alumni and friends. For additional information, including how to provide for Ohio Wesleyan in your estate planning, contact the Office of Gift Planning at 740-368-3043 or giftplanning@owu.edu.