Rita Geiger first established a will with the Foundation in 1977. In the years that followed, her parents died, she retired, and she became an author.
“Things had changed a lot and my financial advisor said we needed to look over everything,” Geiger said.
She worked with her financial advisor to review retirement and life insurance plans to ensure consistency in naming of beneficiaries, and all income sources, including royalties that she now receives for the books she has written.
The retired schoolteacher is one of six authors of the Scott Foresman Social Studies series, and she wrote the activities sections for the book Oklahoma: Land of Contrasts published by Clairmont Press.
Geiger’s financial planner worked in partnership with the Foundation to bring her estate plan current. Today, it not only covers how her assets will be distributed to ministry causes after her death, but also who will act on her behalf in healthcare decisions if she were to become incapacitated or unable to make financial decisions.
Geiger, who is single, documented her directions for end-of-life decisions related to life support and feeding tubes in an Advanced Directive for Healthcare.
“It’s important to update your estate plan periodically. Especially as a single person, it’s important to have in place people who will make decisions for you if you cannot make those decisions for yourself.”
Being a good manager of what has been given to her is important, as is giving back to charitable causes.
“When I’m gone, I want my estate to go to causes I feel strongly about. It gives me a comfort knowing my estate will be used for the Baptist causes I support,” she said.
Posted on
Friday, May 1, 2009
by Taprina Milburn