"Do you have a Will? Or are you waiting until later? What is your
family going to do if "later" comes before you expect it?
For me, this is the uncomfortable part of financial planning. Today is the day to talk about it.
You are not alone if you don't have a Will. I am so embarrassed to
admit this, but my husband and I never had a Will until our oldest
child was nearly seven. YIKES! I had this crazy idea in my head that
we were going to have some sort of freak accident as soon as the Will
was complete. In fact, I felt "safer" NOT having a Will instead of
having one. Now that's silly thinking!
In the past, before we would go on vacation, I would quickly write a
note describing who would get guardianship of the kids, the dogs, the
fish, and what would happen to our assets in case we happened to have
a serious accident on the road. Of course, I would be embarrassed to
let anyone see this note, so I would hide deep in the drawer in our
office. No one would have been able to find it, and I have no idea
whether it would have done any good if it had been found.
I bet we still wouldn't have a Will if it hadn't been for the death
of my father-in-law. After the funeral, my husband helped his mom
deal with the lawyers, accountants, paperwork, and all the stuff that
happens when a person dies. My father-in-law had planned ahead. All
his beneficiaries were named, titles for property were in order, and
he had a Will. My husband was amazed at how smoothly it went. There
were no waits, no hassles, no extra fees, and no unknowns. That hour
that my father-in-law spent with a lawyer saved his family huge
amounts of time and money during what was a very sad period.
A week later, we had a Will. And gosh, it was easy. The lawyer walked
us through the process and wrote it up. We reviewed it and signed it.
Since we have children, it was important to us to speak to both our
families so they would understand our wishes as to guardianship. We
also talked it over with our kids so that they knew if something
happened to mom and dad, they would still be taken care of by someone
who loves them. Don't trust something as important as your children
and their care to a simple verbal arrangement. I am not a lawyer, but
I have learned that verbal promises mean nothing if one of the
parties changes their mind. And the last thing you want is for your
children to end up in an ugly family fight over who cares for them
(or who doesn't care for them). Yuck!
Every few years, we review and update our Will. It takes about half
an hour.
Today, I don't have to scribble out a note every time we leave on
vacation.
So, do you have a Will? It is important to ensure that your loved one's
futures are taken care of. This starts with your Will. Talk it over
with your spouse. Call a lawyer and make an appointment.
Get this done before "later" comes.
Take care of you,
Cindy
PS: By the way, my silly thinking was wrong! I have a Will for many
years now and I didn't die LOL!
