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The best gift you can give your family is peace of mind.
I know all of you busy Moms and Dads are out there hustling to make it happen for your families. While you are out there hustling don’t forget to make a plan.
What would you do if I told you that you are leaving yourself exposed?
Yes, that’s right – all of the assets that you are working so hard to acquire and that you have control over can be in someone else’s hands if you don’t take action. I know you are young and beautiful and living life like its golden… But are you prepared for the “what ifs” in life.
Now that you are a parent you can’t live your life unprepared. After all, you have someone else to think about now – not just yourself.
- Are you prepared if you have an accident and you are permanently or even temporarily incapacitated?
Do you have a Power of Attorney?
Are you prepared if you have to go in for an emergency medical procedure? Who do you want to make healthcare decisions for you; your spouse, your parent, your sister, your brother?
Do you have a Living Will or Medical Directive giving someone that authority to make medical decisions for you?
What if you should pass away suddenly without warning from a heart attack, seizure, stroke, aneurism, or by accident and you don’t get the luxury of time – do you have a Will?
Of course, many of us think “That won’t happen to me! – I have time!” But you really don’t. So, why not prepare while you can.
Did you know that you can also talk about guardianship in your Will and create an intestate trust where you can leave money to your children in varying percentages at different ages (when you as their parent think they can handle the inheritance – not the age that the law dictates)? You can also set aside money for college and determine while you are healthy just who you think would be best to step in and care for your children if need be. Those precious children you take care of every day need your protection even more if you are no longer here. They rely on you so don’t let them down.
You also want to select a trustworthy Executor to make sure that your wishes set forth in your Will are fully carried out You can talk to your loved ones and family members now to make a plan – so no one is left second guessing. Everyone will know exactly what you want to happen without any animosity, fears or doubt. In essence, you will have the ultimate say. There’s no better gift to leave your family than peace of mind.
Still confused? Check out this author’s Legal Lingo and FAQ page! You can also sign up to get a checklist on that site that will help you get organized in a matter of minutes. It’s free and it’s as easy as 1,2,3.
Note: This is not attorney-client legal advice. Be sure to check your local laws and consult an attorney in your area with any questions. Eilene Brown is licensed in Maryland, New York and the District of Columbia.
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