Making a Will – Making a Will is one of the most practical ways we can prepare for our death. It is also one of the most significant and lasting ways we can express our love and care for those things that matter most to us in our life—our families, friends and loved ones, and our ideals and values. In general, it is most helpful if your gift to the Tertön Sogyal foundations is not designated for any specific purpose. This allows the members of the committee maximum flexibility to allocate grants where they will have the greatest effect and benefit, at any given moment in time.
A True Spirit of Generosity – According to the Buddhist teachings, it is extremely important to give up all our worldly attachments at the moment of death, in order that we can die in peace and equanimity. Furthermore, giving away our wealth and possessions, in a true spirit of generosity, can be an act of profound spiritual significance—one that will help ensure we accumulate tremendous merit for our future lives.
If we neglect to make a Will, this can cause unnecessary anxiety and confusion for those closest to us, at a time when they need to take care of all the arrangements following our death. Furthermore, our wealth may not be distributed as we would have wished; at worst it may even be reclaimed by the government.
How to Make a Will – In each country, there are different laws, regulations and tax rules in regards to writing a legally valid will. That is why we would recommend that you speak to the Rigpa Legacy advisor in your country, especially where your affairs are complex you should also consider taking legal advice.
General Information about Legacies – An individual can decide to leave all or part of his/her cash, bank accounts, apartment, stocks and shares, antique furniture, jewelry or other articles of monetary value to Rigpa after they die in the following ways.
- Written Document – The written document that makes this clear is a will or testament which describes the gift, called a legacy or bequest, of money or property that the individual wants to make to a person or organization.
- Estate – The money and property that are left after a person’s death are known as the estate of the person. The will is the legal instrument that permits a person to make decisions on how his estate will be managed and distributed after his death, which individuals and organizations inherit all or part of his estate, and who will be the executor of the will, that is: who will distribute the estate to the beneficiaries.
- If a person does not leave a will, this can create a lot of anxiety and difficulties for their family. Every country has laws that define what will be done if a person dies intestate (without leaving a will): for example, the state will decide who inherits the estate, including in some cases the state.
- Depending on the law in your country, there are taxes and other duties that will be taken out of the estate before it is paid out to the beneficiary, or that the heir or beneficiary of a will themselves must pay to the state out of the inheritance. These taxes can be very high.
How your gift supports Rigpa's work – In general, it is most helpful if your legacy or donation to the Tertön Sogyal foundations is not designated for any specific purpose. This allows the board maximum flexibility to allocate funds where they will have the greatest effect and benefit, at any given moment in time.