None of us know the time and date of when we are going to die. In some cases, individuals die at very young ages and sometimes for no foreseeable cause – there is no guarantee that we will live to a ripe old age. Others face the reality that their end is coming soon due to old age or illness, and are given some time to prepare themselves for the end. However, we never know beforehand as to which of these will be our fate.
A British man named John Matthews, 60, had knowledge of his oncoming death after his diagnosis with a very serious form of cancer called mesothelioma, a cancer that is most often associated with asbestos. Knowing that his odds of surviving the year were approximately 50-1, Matthews decided to place a bet…on his life! In fact, because theUnited Kingdomhas very loose gambling laws, people there can bet on nearly anything. In this situation, Matthews decided to place a bet of £100 that he would live through June 1, 2008. He was able to beat the odds and collected on the bet. Feeling that luck was on his side, Matthews decided to repeat the wager and bet that he would see June 1, 2009 at which point he also beat the odds and won £5,000.
Matthews decided that third time was a charm and placed yet another bet that he would reach one more year. Placing £100 bet at 100-1 odds Matthews would have won a £10,000 jackpot if he lived till the following June. However, this time the cancer finally got the better of Matthews and he passed away only weeks before he could have claimed his prize.
So, what does Mr. Matthews’ story have in common with estate planning? To delay creating an estate plan is like gambling on the length of your life. For each year that you put off creating an estate plan, you are essentially gambling that you will not pass away during that time. However, there are no guarantees and none of us know how long we will live. Why do so many of us choose to gamble with our future, our security and the well-being of our loved ones?
While Mr. Matthews’ only bet the equivalent of a couple hundred dollars, those who delay planning their estates are gambling with ALL they own as well as the security of their loved ones! Do not face these odds and risk losing everything. Do not gamble with your future. Call 888.222.1328 today to schedule a free consultation with an attorney at MH and discover how to protect your assets and your loved ones.
What the Attorneys of Morris Hall Can Do For You:
The attorneys at Morris Hall have 100’s of years of combined experience ensuring that families’ assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down. The attorneys also help those in Arizona to apply for and receive Medicaid assistance and Veterans Benefits. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.
- Beyond Probate: Understanding the Drawbacks & Alternatives - September 1, 2023
- DIY Estate Planning: Worth the Risk? - August 31, 2023
- Use These Questions to Develop an Estate Plan Outline - August 30, 2023