1. Have you had “the conversation yet? What if today was your last day on earth?Would you be wishing you had considered Estate Financial Planning?
2. Estate Financial Planning QuestionsEstate and financial planning are subjects that many folks put on theback burner as they can feel overwhelming and sensitive subjects tobroach, especially when it comes to talking about death and dying.While it’s hard enough for us to consider our own demise, for manyit’s even more difficult to have “the talk” with our loved ones. Live your life to leave a legacy of love and a strong financial foundation for those you care about.
3. Estate Financial Planning QuestionsHere are some things I learned that I hope will help you to havethose difficult, yet necessary “conversations” with your lovedones… and even with yourself. ● What if today was your last day on earth? ● Would your family be prepared to survive financially without you? ● How so? ● Do you have resources and/or life insurance to cover their financial needs for some time to come?
4. Estate Financial Planning Questions Having life insurance is only part of the equation. ● How would you like your worldly. possessions and assets to be distributed? ● A will is helpful, but did you know that a beneficiary designation on an account will override the wishes of your will? ● When is the last time you reviewed those beneficiaries on your holdings? ● If you’ve divorced and not looked at these matters it’s possible your ex could inherit assets you never intended for them to have Would you be wishing you had considered Estate Financial Planning?
5. Estate Financial Planning QuestionsIt’s not just about the money.● Many families fall apart after losing a loved one not only because of the loss of that person, but also because of feuding over ‘things.’● Having a conversation with your family members to talk about some of your possessions that might be special to each person (a piece of jewelry, a memento, an heirloom, a piece of furniture, etc) can go a long way to preventing this common problem.● Then write it in your will so it’s known by all. Would you be wishing you had considered Estate Financial Planning?
6. Estate Financial Planning QuestionsHaving children and parents to care for further complicates the situation.● Many folks today find themselves smack dab in the middle of the “Sandwich Generation,” those taking care of children and elderly parents.● If you find yourself here it is even more imperative that you work with a financial planner and estate attorney who can help you create a plan for all your dependents to survive financially in the event of your passing. Would you be wishing you had considered Estate Financial Planning?
7. Estate Financial Planning Questions Having children and parents to care for further complicates the situation.● The last thing most folks want is for their children (even adult children) to get a huge sum of money and blow it in a short amount of time. Or for aging parents to be left without enough resources to take care of their basic needs.● Proper planning can allocate funds to be given over a period of time covering more needs all the way around.
8. Estate Financial Planning QuestionsHave the “talk” long before it’s ever needed.● Talking about death and dying with those you love can be awkward indeed, yet the anxiety of not knowing their true wishes and desires can be worse to deal with.● It goes beyond filling out a Living Will. When my father-in-law’s health was failing I gently reached out to my mother-in-law to broach the subject of Hospice care. While everyone around him was putting pressure on to fight on, I could sense that the end was near and honored him by asking his wishes.
9. Estate Financial Planning QuestionsHave the “talk” long before it’s ever needed.● Having spent six weeks in the hospital he simply wanted to stop all the intense measures and go home to pass peacefully. In the end, those conversations allowed him to have his last wishes and for my mother- in-law to lie in his arms during his last hours on earth.● What a beautiful way to end nearly 60 years together. Would you be wishing you had considered Estate Financial Planning?
10. Estate Financial Planning Questions As you can see, financial planning, including estate planning (and divorce financial planning if applicable) should be a standard part of all families’ lives. ● After my recent experiences I found a wonderful website dedicated to helping people with these issues. ● Visit http://divorcemoneymatters.com for helpful tips and a starter kit on how to share these important conversations and more.Live your life to leave a legacy of loveand a strong financial foundation for those you care about.