I’m Too Young

When I was a young boy many years ago, on certain occasions my mother and father were quick to tell me that I was too young:

  • Too young to ride my bike to my friend’s house by myself
  • Too young to stay up as late as my older sister
  • Too young to swim in the creek by myself
  • Too young to mow the grass

These days of my life I don’t hear that statement any more. My parents are both in heaven. My dear wife never says I’m too young. Neither do our children or grandchildren.

And I surely don’t say that to myself or about myself. I’m not too young to do anything or to own anything or to go anywhere. I’m 76 years old. I’m not too young for anything.

In my work of encouraging people not to wait too long to plan how they want what they own to be distributed after the Lord calls them to heaven, I often hear people say: “I’m too young to think or talk about death and dying. Maybe I’ll be ready for that someday. But not right now.”

It’s more likely that I’ll hear that statement from someone 40 or 50 years of age or younger. But I also hear it from folks who are in their 60s or 70s or 80s. Too young? Really?

That’s the third of seven estate planning myths I began a couple months ago. “I’m too young to think or talk about death and dying. Maybe I’ll be ready for that someday. But not right now.”

Here’s the reality. Neither you nor I nor anyone else has a special “lease on life.”

Jesus told a parable of a farmer blessed with abundant crops. He decided to tear down his old barns and build bigger ones to store all his grain and possessions. No problem with that, so far.

Jesus continued the parable with what this rich man said to himself: “Then I will say to myself, ‘You have plenty of good things laid up for many years. Take it easy. Eat, drink, and be merry.”

Then Jesus added: “But God said to him, ‘You fool! This very night your life will be required of you. Then who will own what you have accumulated?’”

And Jesus concluded: “This is how it will be for anyone who stores up treasure for himself but is not rich toward God.”

Your legacy plan is not only about you. It’s especially about your loved ones. No matter your age, you’re not too young to plan your estate. Doing so helps minimize the stress your loved ones will experience when your life on earth is over. Just do it. Now. Legacy Deo can help.

Feeling Your Age?

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If you’ve ever looked at others your own age and thought, “Surely I can’t look that old!” you’ll be able to relate to this story:

My name is Alice. I was sitting in the waiting room for my first appointment with a new dentist.   On the wall I noticed his DDS diploma, which bore his full name.

Suddenly I remembered a tall, handsome, dark-haired boy with the same name who had been in my high school class some 50 years ago. Could he be the guy I had a secret crush on back then?

Upon seeing him, however, I quickly discarded any such thought. This balding, gray-haired man with the deeply lined face was way too old to have been my classmate.

After he examined my teeth, I asked him if he had attended Morgan Park High School. “Yes, I did. I’m a Mustang,” he gleamed with pride.”

I asked, “When did you graduate?” He answered, “In 1969. Why do you ask?” I exclaimed, “You were in my class!”

He looked at me closely. Then, that ugly, old, bald, wrinkled faced, fat, gray-haired, decrepit,  so-and-so asked, “What class were you teaching back then?”

If you’re feeling your age, and even if you’re not, now’s the time to take care of writing your Last Will and Testament, if you don’t already have one. And if you do have a Will, it may be time to take a look at it and see if it needs to be updated.

Estate planning Myth #2: “Our estate plan was completed several years ago. We should be OK.”

The fact is that changes in your age, family situation, beneficiaries, and favorite charitable causes, not to mention changing estate tax laws, often result in a Will that is out of date.

Legacy Deo is pleased to offer Planning Your Legacy … A Guide to Planning Your Will and Trust. For your free copy, call 1-800-880-3733 or 1-512-646-4909 or contact info@legacydeo.org.

Using this guide to plan your estate will spare your family the difficulty of having to go through a much more difficult and costly process than would be the case at a time of sorrow and grief.

Do it now, while it’s on your mind. Provide a copy of your completed Will to a trusted member of your family and/or your independent executor. Your family will be blessed as a result. And it just might make feeling your age a bit more meaningful.

Estate Planning Myth #1

In my work with Legacy Deo I talk to people about estate planning. Creating a plan is an important step for every person to take, regardless of age or financial status. It can be done by using a variety of methods of current planning for future gifts to family and charitable causes.

Almost every day I encounter people who have misconceptions about how, what, where, when, and why estate planning should occur. Accordingly, a large part of what I do is help people understand what is mythical and what is factual about estate planning.

This week I’m beginning a series on Estate Planning Myths, sharing one each month. Here’s Myth #1: “I’m not wealthy enough to consider planned giving. I just don’t have a large enough estate to worry about planning for the distribution of my assets when I die.”

Here’s the fact: Regardless of the size of your estate, what you have is God’s gift to you. As people entrusted with the management of whatever we have received as a blessing from God, you and I have the responsibility of carefully and prayerfully planning the distribution of what we have to the people and the causes we love.

Read the parable Jesus told in Matthew 25:14-30 about the varying amounts of money entrusted to the care of each of a master’s three servants. We’re not all equally blessed. What we do with what we have is important, no matter how much we have or don’t have.

Every heartfelt gift you and I make to our family and to our church or other charitable cause is helpful, no matter the size of the gift.

So whether your possessions are worth $10,000 or $10,000,000, take the steps necessary to be sure they are efficiently and effectively passed on according to your wishes.

That’s the essence of estate planning, also called planned giving. Legacy Deo can help!

Contact us at info@legacydeo.org or call us at (800) 880-3733 or (512) 646-4909 for a free Wills Planning Guide. You’ll be glad you did!

Estate Planning Stories

 

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Here’s a non-serious and perhaps non-factual story about creative estate planning:

Joe was a single guy. He lived at home with his widowed father and worked in the family business. After he found out he was going to inherit a fortune when his sickly father died, he decided he needed a wife with whom to share his fortune.

One evening at an investment meeting he spotted the most beautiful woman he had ever seen. Her natural beauty took his breath away. “I may look like just an ordinary man,” he said to her. “But in only a few years my father will die and I’ll inherit 20 million dollars.”

Impressed, the woman obtained his business card. Three days later she became his stepmother.

Women are so much better at estate planning than men.

Now here’s a true story on the serious side. Over 30 years ago during my first term of duty with what was then known as Lutheran Foundation of Texas, I assisted a married couple with their estate plan. For a number of reasons they asked LFOT, now Legacy Deo, to serve as executor of their respective estates. He died several years ago. She passed away earlier this year.

In accord with directives in their last will and testament, the Executive Director of LFOT, now known as the Chief Executive Officer of Legacy Deo, is serving as executor. That’s me.

This couple’s estate included a double crypt at a funeral home in Brookfield, Wisconsin. Recently in that state for another reason, I was able to look at this very valuable estate asset. Because the family chose to be buried in Texas, they no longer need the crypt, now for sale.

The funeral home is the most beautiful I have ever seen. The main building is surrounded by well-manicured grounds and acres of bronze grave markers. The interior includes pristine, dignified crypt halls with burial spaces on each side, from floor to ceiling. I was impressed!

It’s my duty to liquidate all assets of this estate, which will then be distributed to the Lutheran congregation of which these two dear folks were members. If you’re interested in more information about crypt location and price, let me know. I’ll be happy to provide the details.

In the meantime, if you haven’t already done so, I strongly encourage you to do what these fine folks did. Take care of the very important matter of estate planning, which is not accomplished simply by marrying a wealthy senior citizen. Planning your estate is a critically significant responsibility that, when accomplished, will bring peace of mind to you and to your family. Legacy Deo can help.