The recent passing of basketball great Kobe Bryant is a jarring reminder of just how fragile life really is. Most of us take for granted that we have a long string of tomorrows ahead of us, but such thinking is arrogance. Consider the words of James:
Look here, you who say, “Today or tomorrow we are going to a certain town and will stay there a year. We will do business there and make a profit.” How do you know what your life will be like tomorrow? Your life is like the morning fog — it’s here a little while, then it’s gone. (James 4:13-14, NLT)
The harsh reality is that none of us know which day will be our last, so wisdom dictates that we should prepare for our passing in advance. When Hezekiah, the King of Judah, became gravely ill, the Lord sent the prophet Isaiah to him with a message, saying “Set your affairs in order, for you are going to die.” Unfortunately, most of us are not given such a clear warning.
Maybe that’s why so many people put off creating an estate plan. In a 2019 study by Caring.com, only 40% of adults have a will, living trust, or other testamentary documents. Predictably, the study found that the percentages increased directly with the age of the respondent. What’s surprising, however, is that only 66% of people age 65 and older have a will or a trust. The consequences of failing to plan can sometimes be devastating. Set your affairs in order, for you are going to die.
If you’d like to learn more about creating a will or trust tailored to your family, your property, and your individual circumstances, contact McDannold Law today.