7 Reasons You Should Take ACTION!

Would it surprise you to know that advisors and professionals are often the best of the best in their fields and yet notorious for not taking their own advice when it comes to planning and protecting themselves for the future.  Think about the doctor you visit who doesn’t take particularly good care of themselves.  Or the lawyer who hasn’t yet created their own estate plan, in spite writing hundreds of simple and complex plans for their clients.  Don’t let yourself be caught in this trap! Plan today, take your own advice as well that of the advisors in your life and ensure you are protected into the future. 

In order to make sense of the process, you may wish to ask yourself some questions to guide your next steps.  What do you need to know? What documents are important to what I want to accomplish?  And Why?  Who should I talk to?  Here are my suggestions to take control of the process of planning for yourself.

1. Great advisors will save your soul…

   • Attorney

   • Accountant

   • Financial advisor

   • Investment advisor

   • Insurance broker

   • Real estate broker

2. Create a framework

   • Draft a will and outline what you wish to happen with personal property, collectibles, protection for your underage children

3. Protect yourself from probate

   • Consider how a Living Trust can protect your estate, large or small, from probate

4. Remember you are not invincible

   • The Durable Power of Healthcare documents allow you to make choices about your end of life process as well as name the person who will ensure what you wish to happen, will happen

5. Expect the unexpected

   • Address the non-tax aspects of planning

     • Protect children

     • Consider who will be administering your trust

     • How will trust distributions be made

     • Try to imagine contingencies and plan ahead

6. Communication is key

   • Share your plan with family, advisors

     • Remember in spite believing your family is different from all others, they may not be “my family will never do that…”

     • My kids are great friends…they will never fight, have an issue over anything in my plans

     • I need to be fair….

7. You are not always THE right person for the job

   • Hire a Professional Fiduciary

     • To serve as your trustee during life and,

     • Your executor/trustee to navigate your wishes and the distribution once you’ve passed

Contact me today to understand what a Professional Fiduciary can do for you and your family.  I look forward to becoming a part of your team.