Success StoryTransferring Cherished Possessions
Transferring Cherished Possessions
Author: Tiffany Bolinger
Planning Unit: Christian County CES
Major Program: Financial Education - General
Plan of Work: Nurturing the development of local economic and community growth.
Outcome: Intermediate Outcome
Estate planning allows people to control what happens to their possessions after their passing. Without a legally recognized plan in place, the government may dictate how someone’s assets are distributed. While there are numerous informal approaches to estate planning, not all are legally recognized. This may create confusion and spark conflict among families during an already challenging time.
To increase consumer knowledge on estate planning and asset distribution, the Christian County Extension Office hosted a Homemaker Leader Lesson from the Transferring Cherished Possessions curriculum on April 7th & 8th. At least forty-four Homemakers participated in the workshop. The evaluation placed educational emphasis on four things:
- What makes up an “estate.”
- Legal considerations for non-titled property.
- What to include in an Asset Distribution Plan.
- How to write a Letter of Last Instructions.
As a result of participating in the Transferring Cherished Possessions program, 70% of respondents indicated they were better able to understand what makes up an “estate”; 86% better understood legal considerations for non-titled property; 86% better understood what to include in an asset distribution plan; and 84% gained insight into writing a letter of last instructions.
Further, reported behavior change intentions included:
- 61% indicated they plan to start an Asset Distribution Plan.
- 57% indicated they plan to start writing a Letter of Last Instructions.
- 45% indicated they plan to contact an estate planning professional.
- 66% indicated they plan to create or update their will.
As a result of the program, one participant noted that their biggest take away was, “Be sure all your possessions have instructions for distribution and that your will and final instructions are valid under KY law.” Several others plan to attend the full four-week Transferring Cherished Possessions series when it is offered in the fall.
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