New Year - New Resolutions

I always enjoy the turn of the year. It is not only a time to reflect on the past, but also an opportunity to think about the future. Many people enter the new year with one or more "resolutions," most often involving some type of weight-loss program. I want to offer an easier and more significant resolution for your consideration (easier and more important-how can you argue with that?).

I recommend that you take the new year to ensure that your financial and legal house is in order. All too often financial and legal matters are not addressed until there is an emergency or a real need and by that time, it is too late to adequately address these matters. You may want to consider addressing them now, so that if a need ever arises, you and your family are protected.

The following is an example of some steps you can address this year:

Seven Steps to Protect Your Family

Action Item

1. Sign a Will and/or Trust to direct the disposition of property at death

2. Obtain a Durable Power of Attorney

3. Obtain an Advance Health Care Directive

4. Document Funeral/ Burial Wishes

5. Create a Personal Record Book, containing such items as a list of assets, document locations and emergency contacts

6. Conduct a long-term care and life insurance assessment: either a self-assessment or speak with an insurance professional.

7. Leave a lasting personal legacy for your friends and family, e.g., a letter or ethical will