Before I get into talking about the estate tax changes, I just want to take a minute and kind of define the term beneficiary.

Often when we think about a beneficiary, we just think about who’s going to get the money when we’re gone.

But if you really think about it, the meaning of beneficiary is who is benefiting from …

Who’s the beneficiary of what you have worked hard for and saved for?

Hopefully, the first beneficiary is you!

You’ve spent the time, the energy, the money, working in your career, or building a business, or running the farm. The point is, you’ve spent that time to build up what you have, and so the beneficiary of everything, first and foremost, should be you.

But if we continue that in that thought when we think about setting up beneficiaries.

Who do you want to benefit from your hard work, your sweat, and tears, your diligence and saving?

Personally, I want my kids to benefit from my work.  I also want the beneficiaries to also be my kids in Haiti. They’re benefiting from our hard work, not just mine, but other people that are donating to them.

So when you think of a beneficiary, it’s who’s benefiting from it and you, of course, should be the first beneficiary.

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