I am a self-diagnosed extreme list maker and goal setter. Sometimes I put something I have already finished on my “to do” list just so I can cross it off. I KNOW some of you reading this and saying to yourself, “I do that too.” As I was looking over my “to do sticky note,” I realized that we are half way through 2017. That of course made me evaluate my yearly “to do list.” Since I was going down that rabbit hole mentally, I figured, “why not write about it.”
If you set goals or resolutions, you still have time to push towards them, you have half a year left! That’s encouraging for sure. If getting more organized is your goal but you have yet to start it, let me suggest that you narrow that goal down to just organizing your paperwork for your estate planning.
The other day, I was meeting with clients that expressed to me how thankful they were that they had “homework” from me because it made them collect all of their estate planning paperwork like deeds, life insurance, investment account statements, bank statements etc. They had these scattered all over the place, including under the bed and “in” their computer. If you are not organized from the beginning, this can be an arduous task, but once accomplished, this organization benefits so many people. First of all, your attorney will be grateful to know that no unexpected asset will pop up that will throw a wrench in your plan. Second, it benefits the spouse, any Power of Attorney, the Personal Representative of an Estate, The Trustee of any Trust created and any Beneficiary.
Getting organized now will benefit your family after your death and will leave a lasting impression on those handling the estate so that they may grieve over the loss of their loved one instead having grief over trying to find documents for the estate.
So, make a “Last Half of the New Year Resolution” to get all of your estate planning paperwork in one location that is known to your Personal Representative or Trustee and check that goal off of your list.
Have a great Happy Half New Year!
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