Time whizzes by and many of us still put off planning our future. It just seems too hard.
I want to make it easy for you to address the estate planning side of your life. All you need to do is follow simple steps. Get out a blank piece of paper and just start writing down the answers to the following questions.
Step One: Assess your current situation and set goals for your future.
Your current situation has many parts.
Who are the important people in your life you can rely upon to help if you are seriously ill, or when you die? Who do you want to inherit your property? Who gets that share if they die before you do?
What do you own and what is the current value of those assets? What major debts do you have other than regular monthly bills? What is the death benefit of life insurance on your life?
Review any current wills, powers of attorney, trusts, deeds, and titles on investments and see if they reflect how you want your affairs handled if you are sick or when you die.
Your future goals consist of how you want to continue to spend your time, talents and assets during the good days, and also during the bad days (if you are seriously ill or when you die.) Most people want to continue to handle their affairs while they can, and spend their funds as they are now, or even more expansively by helping with college expenses or going on grand trips. They also want to select who will handle things when they can no longer take care of personal care and finances of daily living. Another decision in goal planning is staying in your home as you age, or considering alternative living arrangements. How will you pay for it?
I recommend you obtain professional help with Steps Two and Three. Step Two is to come up with a plan that will help you accomplish your goals. Step Three requires that you actually implement the plan and keep it up to date. Don’t just talk about it.
It may take you an hour (and maybe longer) to complete Step One, but only you can do that. There is not better time than now, so “Just Do It.”
Happy New Years to you and yours, and may 2011 be filled with all you desire.
P.S. If you would like help with Steps Two and Three of your estate plan contact us through our website (www.graham-lawoffice.com) or call 208-344-0375.