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The Importance of Having a Will

Posted on March 17th, 2016

It’s not uncommon for me to have people at church ask me financial questions, and I really don’t mind! I don’t like to do business on Sunday–especially at church–but if I can help someone be a better steward, it is time well spent.

One Sunday, a single mom with three children under the age of ten asked me whether she should consider getting a Will. I explained the definite need for her to get a Will and the process, including an approximate cost. I knew she was concerned about the cost when she said–in all seriousness–that instead of getting a Will, she would tell the children to put an ad in the paper requesting nannies to apply! She said her children were very responsible–really?

Obviously, she had not thought this through to its logical conclusion. As silly as this sounds, the result is no different than if someone with minor children doesn’t bother getting a Will and naming not only a guardian, but also contingent guardians.

Believe it or not, people–even family–will tell you that they would be glad to raise your children if something happens to you; but when the time comes, they have a change of heart.

Another suggestion: don’t name your parents unless absolutely necessary! Instead, name someone you are already friends with and who has kids the same age(s) as yours. Hopefully, they already get along great. I think this is preferable to moving the kids to a different town just to keep the kids with a family member. Moving will mean your kids will have to make all new friends and get adjusted to a whole new environment.

Procrastination is the biggest enemy here! This is so important that it needs to be taken care of YESTERDAY!!


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    Though Mike Miller is an employee of Ronald Blue Trust, Talking Money® represents his individual views, and not those of his employer or any other sponsor of the program. During the program, Mike may discuss market trends as well as specific financial planning techniques and investment ideas. These discussions are for general information only and are not intended to provide specific advice or recommendations to any individual or organization. Work with your attorney, or accounting, or investment professional for specific individual advice and services. Any securities or investment products discussed on Talking Money® are not insured by the FDIC, are not a deposit or other obligation of or guaranteed by any bank, and are subject to investment risk, including possible loss of principal amount invested.