For the Generations to Come

My great-grandparents lived a hardworking, humble life. I am blessed to have grown up around them. I affectionately refer to my father’s grandfather, my great-grandfather, as Pap. Pap didn’t leave millions behind. He was a saver by nature, so it’s telling that he saw creating a will as a worthwhile expense. I believe he did it for his daughter, his three grandsons, and all of his great-grandchildren, some of which he never met. He did it for the generations to come, not for himself.

Most people think of establishing a will (or testament) typically as something they can put off, not an urgent task. So why should anyone set aside the time and spend the money to have their last wishes recorded? Three primary reasons come to mind.

• First, a testament is worth creating because it designates who will receive your assets after your death. If this is important to you, that is reason enough to add this to your urgent category of to-dos.
• Secondly, keep in mind the importance of obtaining a will is not only to ensure your last wishes but also to benefit generations to come. Specifically, having a will minimizes or eliminates the need for probate. The probate process is public and can be very expensive and lengthy. Ask yourself, “Who is the person in your life that would ensure your estate is cared for in a way that honors you?” In Pap’s case, his will eased the burden on his daughter, my grandmother, during a difficult time.
• Thirdly, a will establishes guardians for minor children. Therefore, if you are a parent of minors, creating a will should automatically be a high priority.

Making plans for what will happen after we die may not be something we want to think about, but it is a way to show your care and concern for family and generations to come.

Hannah Whatley, CFP®, AIF® is an Advisor with Rather & Kittrell.