About a week ago, I listened to an interview with a psychologist who has conducted research into gifting from the perspective of the gifter and the giftee. It seems that those who buy gifts prefer the instant gratification they receive from giving a tangible item and having the recipient express appreciation right then and there. On the other hand, according to the research, recipients of gifts, hands-down, prefer the gift of an experience instead. Often, this robs the giver of their “instant gratification,” but in the end, it is more appreciated. And isn’t that what we all want for our loved ones? To give the “perfect gift”? Examples would be concert tickets to a performance of a favorite band coming to town in the spring, pre-paid admission to go bungee jumping this summer (ok, not my idea of a good time), or even pictures or videos of a time past with loved ones having a great time together – invoking all the “feels” of that experience.
All of that got me thinking about wills and estate planning overall. No surprise considering I am an estate planning attorney. I often write about how creating your will or estate plan is such an act of love, knowing you will provide clear direction to your loved ones after you die. You’ll be sparing them the stress of trying to guess what you would have wanted and perhaps heading off potential conflicts between heirs. There are so many good reasons to get your affairs in order and keep them in order by reviewing and updating periodically. But the interview on gifting took me down another path – the path of giving the “experience.” For example, if your spouse or life partner has been urging you to “get your ducks in a row” and you’ve dug in your heels, for whatever reason, what a gift (during this holiday season!) to wrap up a box that contains a loving note from you that you will overcome your hesitations and take steps in early January 2025 to create your estate plan. What a gift! What a sense of relief you’ll be giving to your partner. This is true love. You might even see happy tears!
Or maybe you are a parent of adult children who have subtly, or not so subtly, urged you to get an estate plan done. At a minimum, a will, at least. I get it; no one wants to think about dying, but as they say, “None of us are getting out of here alive!” Not to make light of it, but it is true, and if you don’t have your affairs in order, what kind of mess will you leave for your kids? Do they know where all your financial assets are? Can they quickly access your accounts, and what about your insurance policies? Will they argue over your hard-earned assets after you’re gone? Even when you think it won’t happen, you’d be surprised … it happens more often than you know. So again, why not give those children what they really want during this giving holiday? A promise to set this right, to schedule a meeting to get the ball rolling. I promise you, it won’t be as difficult as you might imagine, and you’ll discover that when completed, you will have peace of mind that you’ve taken care of this for them. (A gift to yourself!)
I would be honored to help you in this giving holiday by creating a customized estate plan for you and your family. If this has resonated with you, please don’t hesitate. Call me at 513-399-7526 or go online to www.davidlefton.com to schedule our meeting and give your loved ones the best gift ever.