Continuing Your Generosity

By Andrew Boer

We all face an inescapable truth: whether we like it or not, one day we will die – and we can’t take anything with us when we do. As the Proverbs tell us, wealth is of no value to us when we die.

So at the end of life, when we no longer need it, what are we supposed to do with the wealth that God has entrusted to us?

The Proverbs extol the virtue of planning – a wise person will make a ‘plan’ as to how their wealth is to be put to use after their death. A wise person makes a Will. A Will is probably the most important legal document you will ever sign. In making a Will, you appoint a trustworthy person to administer and distribute your wealth and give them instructions as to how to go about it. Without a Will, neither the person nor the distribution is likely to be as you intended.

We should never forget our family when making a Will. Your family is your first responsibility. Make sure that your spouse and children are taken into account. If you fail to do so, your Will may be subject to legal challenge resulting in strained family relationships and high legal costs.

However, in addition to providing for your family, making a Will also gives you the opportunity to make charitable bequests – gifts to charity that you could not make during your lifetime. A bequest is the gift that costs you nothing, yet it can make an amazing difference to the beneficiary. As a beneficiary of several bequests in the past, MMM can testify to the difference a bequest can make.

Andrew Simpson is an expert Wills and Estates Lawyer, practising in Victoria. In his book You can’t take it with you, Simpson notes that most people he sees have been intending to make a Will for a number of years, but for some reason or another, never got around to it. Some never get around to it. Their wealth is distributed according to a government formula that is usually not suitable for family or charity. Don’t be one of those people. There is no time like the present to make a Will. Make your own decisions about how your wealth is distributed after your death.

For information about making a Will and how to make a bequest to MMM, please download the Bequest brochure.