Communicating your Estate Plan

It was in the fall of 2019 when I made my way back to my hometown for a special visit. I sat in a living room full of antiques and framed pictures of children, grand-children, great-grandchildren, and even great-great-grandchildren. Also found in that living room was my great-grandfather sitting in his rocking chair with some blankets folded around him. I remember that day so clearly as I knew it would be one of the last conversations I would have with him. In that precious time together, he told me stories of the bible studies he created from creation to revelation. 

I listened as he shared these amazing stories of his times pioneering churches in our local area – building churches spiritually and most literally, physically. We sat there for a while, he in his rocking chair and myself on their floral covered couch. I couldn’t help but to think of the impact these stories had in heaven. I remembered Matthew 6:19-20, “Lay not up for yourselves treasures upon earth… but lay up for yourselves treasures in heaven.” His rocking chair stories were following these instructions from Christ exactly. 

Unfortunately, we will never be able to guarantee that we will have rocking chair moments with our children, grandchildren, great-grandchildren, etc. And even if we do, we would not have been a good steward of our time and finances if we waited until the last moment to try and sort out our affairs. Throughout life, an important practice to maintain is communicating with your family members these exact things. It can be a morbid thought to some... “You mean I’m supposed to talk to them about what happens after I die?” While this expression is valid, and I would agree – a bit morbid to think about – we must think of the time our family members will endure after we are gone. Will they spend that time stressed and confused because we couldn’t take the time to put a plan in place and communicate it with them? There are some pretty simple and manageable things you can do (even on an annual basis) that can help get these things in order for your loved ones. 

An estate plan is easily one of the best ways to organize all of one’s assets. An estate plan is a comprehensive work which includes documentation of anything you might own such as properties, possessions, financial securities, cash, etc. This will require you to do some basic inventory of anything of value. You must think of both the tangible and intangible things of value. Of course, your car and home will come to mind quickly, but what about your bank account(s), life insurance policy(s), or retirement plans? You might need to have some of the tangible assets’ value appraised, and you will need to gather the basic account and/or policy information on your intangible assets as well. In this day of technology, it would be wise and almost necessary to include a list of passwords for any important accounts you may have. 

The “inventory” stage of estate planning might be the most time-consuming part of the process, but the good news is that once it is done you should only have to re-visit it for any updates made to your assets. It is a great practice to have an annual review of your estate plan so that you can ensure that it remains current. It would be even better to have your spouse (and children if applicable) with you when you review it. 

There are many other aspects to consider when putting together an estate plan and it can seem to be an overwhelming task. At the end of the day, you must weigh the value of using professional help. There are online programs that you can utilize for additional help, and of course utilizing an attorney would be a great option. Estate planning will go hand in hand with preparing your last will and testament, another vital part of estate planning, which outlines what is done with all of your assets upon your passing. Take the process one step at a time and you will see things begin to fall in place. 
Planning for this season of life has an impact, and while you will not be able to see the benefits it provides for your family, you can rest assured that when your time comes you can spend every rocking chair moment with your family sharing fond memories and thinking of your heavenly reward. I knew that those rocking chair moments with my Grandpa Loyd were precious, and I was grateful that we could spend his last moments discussing his labor for those treasures which are laid up in heaven – as they are without a doubt the greatest reward we can strive for.