Thursday, April 9, 2015

Legendary Coach Dean Smith: Being Generous Doesn’t Mean A Large Amount

March Madness is a glorious time of year for most American’s. We all, albeit unsuccessfully, fill out our brackets with the hopes of winning our office pools, sometimes cheer on the underdogs even though it would be a bracket buster just because they deserve to win, and we enjoy the quality company of our family and friends, which is most important. A story emerged a few days ago that legendary coach, Dean Smith, left each of his varsity letter players $200 for “dinner out”. What a nice jester. An important lesson can be learned from this nice gift. It does not take a large sum of money to make large number of people smile. $36,000 worth of checks were sent to the 180 varsity letter players during his over three decade career at the University of North Carolina at Chapel Hill.

While $36,000 is a large amount to handout, the joy of spreading that to 180 past varsity players is the crux of this story. Estate planning is a great opportunity to make people smile. The amount does not need to be large, but the thought is what counts. Coach Dean Smith could have easily forgotten about the players he coached but, because of the bequest, great memories are revived for the 180 varsity players. Basic estate planning is a great opportunity to direct how items from your estate will be directed once you pass. This is not limited to money, but also personal belonging such as photos, family heirlooms, jewelry, etc. To take care of your basic or complex estate planning needs, contact Adam Bullock with Ratliff Law Firm today at (865) 932-3441 ext. 706.

This is not intended to be legal advice and does not form an attorney-client relationship with any reader.