A horrible thing happened to a friend of mine. Her husband’s best friend died suddenly of a heart attack. He was only 40, active and slim. There was no heart disease in the family. It was a shock to all, one that put fear in our hearts and sent many to the doctor for a physical.
Unfortunately, you just never know when disaster will strike. This is why people pay loads of money for insurance, they hope to never use. What is surprising is while most families carry home, car, and life insurance, they don’t bother to have a will.
For my friend’s husband, the shock of losing his best friend since high school was certainly tragic. What made the whole experience even more dreadful was the fact he did not have a will. As a single father in a good financial situation, he had a nice collection of large assets. But, without a will or spouse, all those assets were frozen upon his death. This created instant havoc in the family. His parents (who survived him) hoped to keep his house for their grandson, instead were told they weren’t even allowed to make a house payment to ensure the bank couldn’t foreclose. Basically, all his possessions had to sit in the courts for a minimum of six months.
While certainly this scenario is rare, it does happen. What is tragic about not having a will is it creates even more hassles at a time when everyone is already burdened with grief and emotion. It also wastes YOUR money. Often without a will, the estate is literally wiped out by legal fees, taxes, and loan foreclosures. Leaving little left over for the people who really need it.
Now, I am the first one to admit, writing up a will is extremely difficult. I am usually very practical and tough when it comes to money and finances; but when my husband and I sat down to write our wills, I was genuinely surprised at the tears and heartache that developed. What helped me through it? Imagining the real emotion that would be left behind when I or my husband did die unexpectedly. I had no desire to make a troubled time into more trouble.
Now, please do your loved ones a favor – get out and write up that will today.
Related Articles:
* Living Wills
* Writing down your wishes
* The Basics of Estate Planning