Black America Must Understand the Importance of Estate Planning

I’ve included this link, an article from Black Enterprise to further explain, argument and complete my point as it relates to money.  I’ve mentioned repeatedly that money knowledge doesn’t just come or occur, even if you make money, there isn’t a guide book to teach one how to use it, the things one should know and expect after making it; etc.  This article describes wealthy people that didn’t have a plan!

All across the country, black churches could testify to having to raise offerings at funerals to complete payment for laying their loved ones to rest.  Amid the fancy cars, the commemorative t-shirts with the family members picture on it, the hair styles that require bundles and cost bands to style, and the high-end fashions all on display at the funeral through diverse family members; little to no thought has occurred as it relates to paying for the actual service.  IF the service isn’t paid in full then you know that there isn’t any money for surviving relatives.  It then becomes a cycle of spending everything bought in for survival.

Grieving the loss of a family member is difficult, but for that to be compounded by the pressure of having to financially support and/or fund a funeral are the last things you and your family want to fight over AND believe me there is always a fight!  Grief is different for everyone, the timing of grief is diverse, the method is different; but for the majority our personality is not at its best during time of bereavement.  The tension and anxiety alone over the loss should be compounded with the handling of money after the loss.  There will be arguments over flower arrangements, color, the attire for the burial, burial vs cremation, family cars, plots etc..  Often the lack of financial planning can and does delay the funeral.

Have the conversation today!  If you love your family, have the conversation.  Make plans for your departure so that your children do not have to fight the family over material things or even debate on how to lay you to rest.

How can you rest in peace when you left the family fighting over everything?

It’s time to mature with and about money.