I Hereby Leave My Estate to Fido
We’ve all heard the crazy stories where people gave their entire inheritances to their pets. Remember when hotel heiress Leona Helmsley famously left her Maltese a $12 million trust fund that disinherited her grandchildren?
Most of us have got more important people and things to consider. Even so, estate planning is a massive undertaking, which can make it tempting to just leave it all to the dog—in a sense. When faced with the daunting prospect of planning, the thought of leaving it for someone else to deal with after you’re gone can be appealing.
And it is traditional estate planning that fosters this kind of indifference.
One of the great kings in Jewish history, King Hezekiah, received a message from God that he was going to die. He didn’t listen, and ironically, his behavior led to the destruction of both his wealth and his family.
When confronted about his behavior the king was indifferent. He didn’t seem concerned about his legacy. He only cared about the security he felt during his lifetime; so his attitude conveyed the message that “Eh, my heirs can sort out the specifics.”
Most people know how important it is to leave a legacy, but even with the planning “expertise” of traditional advisors, are you sure you won’t make the same mistake?
Don’t focus on what others insist you should do. This is your wealth. You have the right as well as the responsibility to make those decisions that will affect your family for generations to come.
Wealth is more than money. Don’t just plan for your future, live it right now. Pass it on and share the insights like this that you find valuable.
Quote
“We should not forget that it will be just as important to our descendants to be prosperous in their time as it is to us to be prosperous in our time.”
Theodore Roosevelt