“A society grows great when old men plant trees, the shade of which they know they will not sit in.” - Greek Proverb
At some point, we will all shuffle off our mortal coils (see Shakespeare’s Hamlet, Act III, Scene I). What will we leave behind when we’re gone? Who will benefit, and how? For some people, estate planning is straightforward, and they have already executed a will or funded a trust. For others, it is something that waits until tomorrow … until tomorrow never comes. Not a good strategy. Regardless of which group one falls into, I recommend giving thought to this important matter.
Two considerations:
Issue #1. “WHO GETS MY STUFF?” This is a static question, which most people can decide in one afternoon with pen and paper. While one can’t take a U-Haul to the grave, at least there is the choice of ‘who gets what’ of the accumulated wealth and possessions. Most people select family members as beneficiaries. Others will also include their church, synagogue, alma mater, or charity of choice. In any event, I strongly recommend discussing your plans with a board-certified estate attorney!
Issue #2. “HOW WILL I BE REMEMBERED?” This is a dynamic question, and is affected by things we have done in the past, as well as things we can do in the future. If we want to be remembered in a good light, hopefully we’ve been good to others. The best legacies come from those who help us live better lives. Looking back, I remember the people who have influenced me in a positive way, and the things they have done that were meaningful.
A thought experiment … ask yourself, who in the world, past and present, has had a major impact on your life? As for me, I present my personal list:
With regard to legacies, this last group is different. The memories and legacies of the people we know today will expire within a generation or two. Case in point … I knew my grandfather personally. As for my great-grandfather, all I have is a photograph. Never met him, no words of wisdom, just a sepia-toned two-dimensional image. I like to believe he was a good man, but who knows?
Compare that to reading the wit and wisdom of Mark Twain, or the philosophy of Socrates from 2400 years ago. I love how these writers of long ago can come alive in one’s mind today. And how a Beethoven piano sonata can touch one’s heart. And how a Van Gogh painting helps us see the world in a different way. These ‘donors’ remain immortal because their legacies continue on through the ages.
Regrettably, the odds are low that I will ever be a member of this last group. But if, through my actions, I have planted or nurtured a few trees that offer shade to someone, the thought of that legacy makes me feel pretty good.
Happy August. I hope everyone is having a good summer!
If you enjoy my monthly missives, please share them with a friend. If you don’t, please tell me. My office hours are typically 7:30 AM - 4:00 PM. Pick up the phone and let me know what’s on your mind. In the meantime, I greatly appreciate your trust and friendship, and thank you for the opportunity to be of service.
*Photo: Oak tree (Quercus hindsii) with person lying at its base. Coloured lithograph, c.1857. Credit: Wellcome Collection. CC BY Creative Commons Attribution (CC BY 4.0) terms and conditions https://creativecommons.org/licenses/by/4.0
