“Use Your Own Voice”: Why an Estate Plan Is Important at Any Age

Mary Lowell Downing Petitt '06

Take it from Mary Lowell Downing Petitt '06: Making an estate plan isn't as daunting as it seems. In her 20s, Mary Lowell had a will drafted and included philanthropic giving in her plans. "It's really about what you want to have happen to what you have worked hard for," she says. And, once you've established an estate plan , you've done the hard work and only have to periodically review when a major life event occurs like having children or getting married.

While your estate plan may not be used for several decades, it's an important way to direct your money to people and places that are meaningful to you. "A lot of people in my generation like to be involved in their community and do so with their time and money, and this is just another way of accomplishing that," Mary Lowell says. "No one else knows more about what is important to you than you; it's better to use your own voice."

When it came to charitable contributions in her will, Mary Lowell says her guiding principle was to give back to the institutions that had shaped her the most as an individual. "It's about what organizations you want to make sure continue to achieve their mission," she notes. "One thing that was very easy for me was to put Westminster in my will. It was a no-brainer."

Mary Lowell, a client advisor at SunTrust who is active on campus as a member of the Young Alumni Council, says Westminster is where she learned to follow her intellectual curiosity and developed a strong work ethic. A planned gift is a way for Mary Lowell to give back-and to help future students have the same kinds of formative experiences she did.

Need help getting started? Use this Personal Estate Planning Kit to begin the process to ensure your wishes for your estate and loved ones are met.