People frequently claim that they do not have a will because they have little to leave behind. In a recent post, we discussed how this justification is inadequate because a will isn’t meant to take effect on the day it is drafted but rather at a later date, ideally in the future. Simply said, you have no idea what the value of your estate might be, and it is very usual for a person’s estate to be worth much more after they have died away than they were ever worth while they were alive.
However, last week I read an article where I was reminded of how modest bequests can actually make a difference. There is little question that even the wealthiest charities gladly accept $100 or RM500 donations, and charities work hard to promote legacy donations. However, it might be challenging to understand how a modest legacy can have an impact on a billion-ringgit organisation.
It was the story of Aaron Collins served as a timely reminder that even with a small sum of money, you may make a significant impact. Mr. Collins, a 30-year-old cancer patient, was aware that he would soon pass away, but he didn’t have a sizable net worth; according to his own brother, he “didn’t have the money to take care of himself while he was alive.” Nevertheless, Mr. Collins believed in random acts of kindness and specified in his will that he wanted his family to order pizza and give the waitress “an awesome tip—I don’t mean 30%.” I’m talking about a waiter or waitress getting $500 for a pizza. In order to honour Aaron’s intentions, his brother set up a blog and started soliciting donations. Since then, money has started to pour in. You can’t help but feel moved after watching the waitress’ reaction video. It is encouraging to observe the innovative ways in which you might use your Will to improve the lives of others. Whether it’s spending only $75 to purchase a goat for a family in a developing nation or $100 to establish a scholarship fund or reward at your former high school.
What is the best way to leave a legacy for the least amount of money possible? Feel free to share some brilliant ideas in the comments section.
You can create a will in around 20 minutes for a very affordable fee at WillsMalaysia.my, if you’re still not convinced that you don’t need to be affluent to do so. Perhaps a legacy gift is something to think about if you haven’t donated as much to charity throughout your lifetime.