Put a Bow on It!

Here we are, in the throes of the holiday season, and you find yourself struggling to find that perfect gift for your loved ones.  They already have gadgets and gizmos, whozits and whatzits, and at least twenty thingamabobs. 

Consider, then, creating your estate plan, because it’s as much for them as it is for you!

Admittedly, thinking through your estate plan doesn’t seem like a very holly-jolly endeavor; it’s more of a sleep-in-heavenly-peace endeavor.  A comprehensive estate plan includes making very important decisions now, so that your loved ones aren’t burdened by the difficulty and conflict that ensues when such decisions are left for them to make.  These very important decisions include, among others:

• Who will have authority to make important health care decisions for you in the event that you are unable to? (Medical procedures, tests, treatments, surgeries, hospice, etc.)

• To what extent should steps be taken to sustain your life in the face of terminal illness or an irreversible chronic illness?  (feeding tubes, pain-relieving drugs, do-not-resuscitate orders, etc.)

• Who will have access to your otherwise confidential health care information?

• Who will have authority to manage your property and assets when you cannot?

• How will your property and assets be distributed?  Who do you want to have specific items? 

If you take care of this now, you will save your loved ones from needless difficulties, disagreements and emotional burdens in the future.That’s a great gift, so be sure to put a bow on it!