Yes, these are challenging times! Up is down, down is up and everything in between seems jumbled up way beyond what we would have believed just a few short months ago. Its more reason to get a reasonable handle on things. Nowhere is this more so than what it has taken you a lifetime to build and accumulate.
Let others fret and worry and succumb to fear. This is your opportunity to be proactive in the matter of your life, health and estate planning! If nothing else, what we are going through, and the uncertainty that comes with it, is reason enough to take charge of your family’s health, well-being and finances. Then peace-of-mind will reign supreme!
Let’s review what you can do at this very moment:
• Now is the time to review any current health, financial, estate and asset protection documents. You must make sure they are up to date. You’ll be surprised to read that a great percentage of such documents are obsolete (even before the pandemic, studies show some 86% fall into this category due to changes in personal circumstances, laws, and events).
• Recently we have been hearing from people concerned about friends and loved ones that need to go into a hospital or nursing home. In addition, some are moving from one facility to another, because of Covid-19 related concerns. Without the proper medical and health authorizations the medical team is not even consulting with family members!
• Might your life, health and disability documents be outdated? As you review, ask yourself what happens if we are hospitalized or have to go to a nursing home? As well, have any beneficiaries or designations changed? Will our family be able to help us? Are the trustees named still who you want? If you’ve designated a power-of-attorney (health and/or proxy), is this still a viable selection? If you’ve stated a guardian or guardians for your children, is the person or persons still desired? Has anyone’s health deteriorated so that he or she is now unable to act on your behalf as you originally intended? All these questions are vitally important to review for obvious reasons!
• Perhaps the questions just asked aren’t relevant because you haven’t even taken steps to put a will, trust documents, a power-of-attorney, or such documents in place? Believe it or not, if you do not have these important life, disability & death planning documents, the state has laws that create a plan for you. The people we serve prefer to have themselves and their families in charge of decisions such as ventilators or not for life saving possibilities. What does it say on your DNR or Advanced Directives? How horrible to think that we become incapacitated because of illness, or worse pass-away. and haven’t even looked after our loved ones’ future well-being or our own! Dwell on this thought for a moment. Isn’t it time to act? Of course, you can always go with the government plan, which has never been the top choice in our 26 plus years of experience, but it is your choice to do something about it!
• It’s also important that you keep a list handy (and let designated individuals know where it is) of the estate planning attorney and financial professionals you rely on. This is significant, in case you are unable to act on your own behalf, and your proxy must take on this responsibility. This list should also include bank account/safety deposit box information, titles to vehicles, home mortgage or title details, credit card information, passwords to any digital/on-line accounts, passports, birth certificate, Social Security card, etc. These items are extremely valuable, in case someone must step in and manage things on your behalf, due to illness and disability which is six times more likely than death in any year. Would you prefer the state, a court, medical institution or a funeral home in charge of you?
• Believe it or not, 67% of people do not even have access to their healthcare agents when admitted to a hospital or emergency room according to the American Medical Association. We provide all our clients with a 24/7 medical access card in case of an emergency. Doesn’t it make sense for you and all those who you care about to have this BASIC life health emergency plans in place so you can help each other in a time of need?
As you have read there are many facets to living. This is what we do, day in and day out. We help protect people, their home, spouse, family, legacy and life savings Sadly, some people drown in the daily aspects of life to a point where they don’t take the time and make the effort to look beyond the day-to-day, and put the necessary components in place so that loved ones are not left scrambling around asking themselves, “why didn’t they put their affairs in order to take care of themselves and us?”
Our team is standing by ready to be of assistance. Through our unique discovery process clients are ready to face tomorrow, no matter if it means facing the new world of Covid-19, or the latest legal, financial, family or personal challenges thrown their way. We have the necessary resources for you and your family. Full details are available at DSullivan.com … everything from books to special reports, digital workshops or DVDs, plus our live and virtual seminars. Make the decision today, that the lessons of the past are your call to action to create a future where you and your loved ones are looked after and your mindset is one of peace!