Having a Will

There is a recent news story that tragically illustrates a principle of leadership I want to urge in this edition of Leading Thoughts. Let me state the principle first, then I’ll take you to the news story.

Great leadership is largely about contending with the future. Leaders are expected to see what others cannot. They must perceive outcomes, project results, and play out the future implications of current actions in their minds. They have to be rooted in the present but clear-eyed about the likely future. This gives them the ability to fashion the future by crafting the present. It’s a gift. When it’s done right, it feels like a miracle.

An important part of this has to do with anticipating risk. Leaders cannot live in fear, but they must live in the clarifying light of reality. They must anticipate troubles to come. This allows them to guard against risk and navigate their organizations to safety and prosperity.

This brings us to the tragic death of Prince and the legal troubles that have ensued. We have all likely heard the news that Prince did not have a will. He had no legal instrument in place expressing his wishes for his nearly $400-million-dollar estate after his death. This means that Minnesota law prevails, which means in turn that his estate will likely be partitioned among dozens if not hundreds of relatives—many of whom Prince never even met.

There will be no funding of inner city programs for the arts. There will be no school for music excellence. There will be no foundation in his name assuring his legacy. His intellectual properties will be distributed to people with no ability to manage them. Costly litigation between contentious family members will likely eat up much of Prince’s estate.

This is all for the lack of a $100 legal document. Prince had no will. He did not insure against risk. He did not consider the future.

One of my favorite Bible verses is Lamentations 1:9. It reads: Jerusalem “did not consider her future. Her fall was astounding.” This is one of the great truths of life. Deal with the future or it will deal with you. This is also one of the great principles of leadership, as I’ve said.

Let’s stay on the subject of wills. For years I’ve been insisting that every man I know makes sure he has a will and that he makes sure he has life insurance. It would probably stun you to know how many people don’t. I have a friend who was a high-ranking general in the U.S. Army. He led entire battalions to victory. This required wise analysis of possible outcomes. You can’t win battles without it. Yet when he died recently, he left his wife of 40 years destitute. He had no will and no life insurance.

I can tell the same story about a relative of mine, about some of my wife’s friends, and about dozens of people in the news. They did not consider the future. Great was their fall.

Here are the lessons. First, have a will. Second, have life insurance. Third, lead in light of the future. Anticipate it. Guard against risk. Fashion it with what you do today. That’s great leadership.

Have a good weekend.

Stephen