Most people don’t know they’re about to die. Even if we understand that we’ll not live forever, we’re thinking our date with destiny is years in the future.
So, many of us don’t talk about life insurance. We don’t talk about about writing a will. We don’t set up trusts for our children. We procrastinate partially because of time, partially because of money, but mostly, I think, because we just don’t want to think about what it will be like when we’re not here, what we’ll miss and what life will be like for those we leave behind.
We need to do it anyway. And once you go through the time, expense and emotional upheaval, be sure to revisit it yearly and go through it all over again. Otherwise you may wind up like Heath Ledger, who died suddenly and unexpectedly, never having updated his will after his daughter Matilda was born.
So, now Matilda will have to rely on the kindness of her grandparents and aunt to receive father’s financial legacy. I’m sure Heath would not have wanted it that way, and I’m confident his family will abide his wishes, at least as best they can.
But it would have been so much easier for everyone if Heath had just updated his will.
So, if you haven’t communicated your final wishes, and put it down on paper, please do. And if you already have everything in order, please review it today. And review it whenever there’s a change in your circumstances. And once a year anyway.
It’s worth doing.