The Problem of Time

One of the challenges each of us must overcome in estate planning or business succession planning is the problem of time.  The problem with time is there is only so much of it.  There is inevitability with time that cannot be escaped.  Life will end.  Our time leading a business will conclude. Yet, in our daily walk it can feel as if that day will definitely not be today or even tomorrow.  Therefore, we put off to another day planning for that inevitability; betting that we will have more time.I am an Arizona State University graduate and a huge Sun Devil football fan.  If you are any type of college football fan you probably heard about the ASU game last Saturday against Wisconsin.  The ending was bizarre, but it really demonstrates the problem of time.  Wisconsin was down by two points with just over a minute to go.  With the aid of a blown out-of-bounds call, they were able to get down to the 13 yard line with 18 seconds to go.  Wisconsin had no time outs.  Instead of spiking the ball and bringing the field goal unit in for a field goal try with plenty of time, they decided to try one more play and get just a little bit better field position.  Unfortunately for Wisconsin (and fortunately for my Sun Devils) because of another botched call time ran out and Wisconsin never even got to try that game winning field goal.  There wasn’t really enough time.  Watch the video below to see how it played out in real time.While it may have been “unfair” to Wisconsin, how often do similar opportunities slip away from each of us, fair or not, because we believe there will be a little more time?  Unfortunately, in my career as a planner I have dealt with a few too many individuals who have put things off just a little too long.  As a result their options became extremely limited or non-existent.  So make time for the important, but not seemingly urgent tasks in life.  You don’t want time to run out without getting a chance to win the game.