Beneficiary

I recently found out from a client regarding the plans for their estate upon passing, and I was quite surprised. A family friend of the testator, close but somewhat disconnected, was in line to receive over 2 million worth of farmland. The interesting thing about the situation was that it was unbeknownst to the beneficiary, who had been somewhat unplugged from their relationship over the past few years.

Like many aging people without children, the discussion about estate planning is not always straightforward. Choosing what relatives, friends, or causes to pass one's financial legacy onto, can be a lot to consider. Add the emotional relationship between farmers and their farmland, and the situation becomes much more complicated.

I couldn’t help but visualize, for good or bad, how differently I believe the beneficiary would have been acting had they realized they were in line for such a windfall. I am sure visits would have been more frequent, and appreciation more forthright. Human nature.

It also made me consider how differently we would behave towards each other if we treated all people as if we were the heirs to their grand estate. Appreciation would likely flow more freely, and benefit of the doubt would be the norm. 

Try treating others as if you are inline to inherit their wealth, and you will likely notice a difference in your demeanour towards them. 

Be ‘beneficiary worthy’ always.

• Now that’s a peak ethos.