Due Diligence

Some years ago in another City and State I had two parishioners, an older couple with no children or direct heirs. They lived in modest home overlooking gorgeous apple orchard. Their modest home was of considerable value because of its hillside vista. And they often told me of their numerous investments and savings. Trouble was - they had never made a will. I pressed them on this; one, two, three times. I asked them, that in the absence of a will, and with no heirs "do you want your estate to devolve to the State?" They did not want that to happen, yet I could not motivate them to make a will. One day I hit upon a question. I asked "do you think that if you make a will you will die? Quick as a flash the wife said "It happened to a woman up the hill". I told the couple that I had a will, and that I was still alive! Long story short. With their agreement I set them up with a lawyer to draw up a will. Turns out that their real and intangible assets had an estimated value of $1 million. 

 Thank goodness they made a will (and left me the modest sum of $2,000) which I had never asked for or anticipated. Their lawyer, (I knew her), assured me that she knew that there had been no coercion on my part. (Clergy ethics rule). 

When I moved to Florida I made a new will in accord with Florida law. (e.g. in Florida the Executor of a will, if not a relative by blood or marriage, must be a Florida resident). My first SRQ lawyer retired last year.

 So I recently spent some time with his successor. It was time well spent. She navigated me through some issues of which I, or her predecessor, had never thought. She advised me so well, as a result of which I made changes to the disposition of my estate. It's not that I am sitting on great wealth. FAR FROM IT! But I do have assets; some real; some intangible. Thank goodness for a wise attorney, whose counsel was of great value; especially because as a single man I have no immediate dependents or successors. 

 If you have made a will  because you believe that your assets are few, make one now. Your heirs will thank you.

 If you have made a will; when and where did you make it? When did you last review it? I do so about every three years. Are your intended beneficiaries still living? Does your Executor have current information re the whereabout of your beneficiaries? Have you advised your family members in writing of your wishes re the disposition of your mortal remains? Do you want a religious service, or a celebration of life, or no ceremony at all. Do your family members know where your remains are to be buried, or otherwise disposed of? If it is possible, have you pre-paid your funeral and/or cremation costs?  i have a friend whose father-in-law is approaching death, and has never made his intentions clear. Thus the father-in-law's wife and three children will have to make hard decisions without the prior guidance of the man who is dying. 

 To my Facebook friends who are lawyers - please add your insights and wisdom as comments. 

 As I have talked about all this with a good friend A. she asked if I knew something which she didn't know - in other words did I have a life threatening illness of which I had not told her. Far from it. So I end with a story. 

 The day before yesterday I consulted with the manager of a local bank about a savings account. I told her that I was reviewing my end of life plans. From her office window she could see Zion as he sat in my car. She said "I can see your lovely dog, have you made arrangements for him?" I told her that I have left instructions on my fridge door as to the temporary or permanent custody of Z in the event if my incapacity or death. (I am advised that E.M.T's always look to the fridge door for DNR papers etc.) "Ah" said the Bank Manager. I can see that you are taking due diligence" 

 Due diligence. 

 That's what this particular blog is all about. Then the Bank Manager added "the next time you come into the Bank bring him in with you". Oh dear Zion. A winner every time!