A survey released by LifeWay Christian Resources on Jan. 14 documented that what often falls under the category of general knowledge can be completely wrong.
In the survey, 52 percent of pastors agreed with the statement that if someone dies without a will, their family decides what is done with the assets of the deceased. Another 11 percent of pastors did not know what happens to the assets in such cases.
In fact, families have no input to what happens to assets of the deceased when that person dies without a will.
More disturbing was the finding that 58 percent of pastors with a child under age 18 did not have a will. Again, general knowledge may hold that the surviving spouse will take care of the children and inherit the assets but that is not the case. The surviving spouse would have custody of the children but assets would be divided between the surviving spouse and the children.
Alabama law specifies that the courts would then appoint a conservator to safeguard the inheritance of minor children. A conservator is required to post bond and to make periodic reports to the court about safeguarding efforts. This is true even if the court appoints the surviving spouse as conservator.
The whole process becomes unnecessarily complicated and expensive because what passes for general knowledge is wrong.
Still the survey found that pastors in the age group most likely to have minor children (ages 18–44) are the least likely to have made preparation for their families in case of an untimely death. Only 32 percent had a will; 13 percent had a living will; and 12 percent had a durable power of attorney with health care directives.
What is true for pastors is true for other Americans according to another survey, which found that 50 percent of all Americans with children did not have a written will.
The problem is not limited to those with minor children. A Harris survey found that 41 percent of baby boomers (those now entering retirement) do not have a will and that 55 percent of adult Americans do not have a will.
We should know better.
Christians do not have to be convinced that God is the Creator and ultimate Owner of everything (Ps. 24:1–2). Believers understand that we are called to be stewards and managers of all that God entrusts to us in life (Matt. 25:21). That includes financial resources as well as time, talents and influence. Yet the majority of us fail to make decisions about how and by whom our stewardship will be continued when we are no longer able to carry on.
Frequently people say they are waiting for the right time before making a will. Usually that means a time when all the pieces of life come together and all the circumstances are just like the individual wants them. But that time never comes. There is never a time when life stops, when situations remain the same, when no new circumstances develop. Life is always changing.
Truthfully there is no time to stop planning how Christian stewardship will be exercised over all God has entrusted to one’s care. It is impossible to make a will today that will reflect all the circumstances and commitments existing 20 years from now. Wills and estate plans have to be revisited periodically and updated regularly.
But there has to be a beginning point. There has to be a first time when a will is written and one’s desires are outlined.
Procrastination also results in people failing to make a will. They are just too busy to take the time. Unfortunately the results of putting off until tomorrow what can be done today can have devastating impact on a family and an estate. When the apostle Paul wrote in 1 Corinthians 4:2, “It is required of stewards that one be found faithful,” writing a will may not have been foremost in his mind, but the principle certainly applies.
No one should be too busy to do what is right.
For some, cost is a barrier, according to several studies. Yet it is hard to put a price tag on peace of mind, on the knowledge that one has been obedient to God’s Word and planned how one’s stewardship will be continued when one is no longer able to carry on.
What is the price of properly preparing for the care of one’s children and other family members, of discharging obligations, of keeping commitments, of helping accomplish dreams?
The old English adage about being “penny wise and pound foolish” comes to mind. One may be so concerned about saving pennies that it ends up costing much, much more.
In addition to a will, another necessary document is a living will. This document outlines one’s desires about life-prolonging medical treatments if one suffers from a terminal illness or is in a permanent vegetative state.
A durable power of attorney document with health care directives is another part of preparing for the future. This designates someone to make health care decisions for you when you are unable to make them for yourself for some reason.
While no one likes to imagine such circumstances, they do happen. Sadly they happen unexpectedly and often.
It is kinder and wiser for the family to know one’s wishes and to understand who you have chosen to make necessary decisions than to create confusion and anxiety for everyone by leaving those questions unanswered.
All of us know better than to ignore making a will, drafting a living will or working out a durable power of attorney. We know the perils. Most have seen sad situations when we shook our heads bewildered that one failed to properly prepare as a Christian steward and a loving family member.
We know better. Now we need to take action. There is no reason such a large percentage of adult Alabama Baptists should not have a will and some kind of estate plan.
To learn more about these topics, contact The Baptist Foundation of Alabama at www.tbfa.org or 334-394-2000.
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