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Your Will: Getting Started

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What Your Will Can Do
Why do you need a will? Because it allows you to:
  • Direct the division of your property the way you choose—not the way the state decides.
  • Make special financial arrangements for your family members who are minors, disabled or unfamiliar with money management.
  • Name a guardian for your minor children.
  • Select an executor (personal representative) who is well-qualified to settle your estate promptly and economically, with careful attention to your wishes.
  • Provide vital support for your favorite charitable institutions. Learn more about making a gift to us through your will.
  • Devise an estate plan, with the help of a qualified attorney and other advisors, to minimize the taxes on your estate.
  • Just a few sentences in your will are all that is needed. Share the sample bequest language for Illinois College of Optometry with your estate planning attorney:

    "I, [name], of [city, state ZIP], give, devise and bequeath the to the Illinois College of Optometry:

    For a Specific Bequest:
    "I leave the sum of $_________ to the Illinois College of Optometry for its unrestricted use and purpose."

    For a Residuary Bequest:
    "I leave ___ percent of all the rest, residue and remainder of my estate to the Illinois College of Optometry."

    For a Contingent Bequest:
    "I give $__________ to my (relationship), (individual name), if he (or she) is living, otherwise to the Illinois College of Optometry."

You Need a WillYou Need a Will
Everyone needs a will, no matter if he or she is young or old, sick or healthy, single or married.

If you leave this world without a will, your assets will be distributed according to state law and your wishes will not be fulfilled. Likewise, having an outdated will also means that your current intentions will not be carried out. So when change occurs in your life, remember to update your will.

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Learn more about basic estate planning.

Contact your estate planning attorney for more information on wills. To learn how to include a gift to us in your will, please contact Mark Colip, OD at 312-949-7410 or mcolip@ico.edu.







Copyright © The Stelter Company, All rights reserved.

The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.


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Have a Question? Contact Us

Mark Colip, OD
Vice President for Student,
  Alumni and College Development

312-949-7410
mcolip@ico.edu
Patricia de Maat
Senior Director of
  College Development

312-949-7071
pdemaat@ico.edu