I hope you had a wonderful Thanksgiving holiday last week, whether you were hosting at your home, traveling to friends or relatives, or simply enjoying a long weekend on your own. However you spent it, I hope it was good. And for those who spent quality time with family and friends, I suspect you felt grateful to have them in your life, whether you verbalized it or not. So, while we are on the topic of feeling thankful for friends and family, I’ll take this opportunity, once again, to nudge ever so gently… have you taken all the steps you should to protect them if something should happen to you? Your spouse, your children, siblings, parents, close friends … all those you care about – have you made sure that if something does happen, your affairs are in order? The following are 7 “nudging” questions that might encourage you to consider taking those steps.
- Does your spouse have all the access information for all your bank accounts?
- Do your adult children understand how you want your assets distributed among them and, just as important, why?
- Have you promised a family heirloom to a friend or relative AND followed that up in writing so there aren’t any disputes after you’re gone?
- Heaven forbid, but if you are in a terrible accident and are on life support with no hope of recovery, have you already appointed a trusted individual to make critical medical decisions on your behalf, letting them know what YOU want to happen? If not, who will make those decisions?
- Have you made financial and care arrangements (such as a trust) for your beloved pet if you suddenly can’t care for them yourself? Or are you ok with your pet being dumped at the local shelter?
- Do you have Bitcoin or other investments that you have not mentioned to anyone else? What will happen to those if you die?
- Do you have a “secret relationship” that your spouse or children are unaware of? Perhaps you are secretly helping someone (a child, an older adult, a long-lost relative). If you haven’t made legal arrangements for them, what do you think will happen if you die, and is that what you want?
Some of these are far-fetched, aren’t they? But some are very real, and families find themselves thrown into confusion and turmoil when a loved one dies suddenly and hasn’t made out a will, let alone set up a trust.
So, in this warm afterglow of spending precious time with friends and family, why not show them how much you care by taking every step you can to protect them? A will. A trust. Legal documents such as a financial power of attorney, medical directives, and a living will. If this bit of “nudging” has motivated you, and I hope it has, please call me while you’re thinking about it, and let’s put together a plan that is customized to your goals and needs. Please call me at 513-399-7526 or visit my website www.davidlefton.com for more information.