Here’s the Scoop: Why, As Women, We Need to Plan
Ladies, whether we want to admit it or not, most of us, at some point, will find ourselves in an unforeseen situation with the rest of the family looking to us for direction. When this occasion arises, it is best to be prepared and have a plan laid out for whatever the circumstances are. I can’t tell you how many times I have worked with a woman left holding the bag after something happened to their spouse, parent, sibling, etc. This is why planning now could be the best gift you give to future-you.
- Outliving Our Partners: Whether we like it or not, most women will outlive their partners. That means, ultimately, we will be making all the financial decisions. We need to be ready to take over when that happens, and, in the long run, it will benefit you to be proactive about it. The good news is we can begin together today. I encourage you to sit down and learn the various investments you have. Come up with a plan to provide a safe future for you and your loved ones, and ensure that you put in the effort and forethought now before you have to do it later.
- Many Changes Occur When You Least Expect: Life can change from what you thought it would look like in the blink of an eye. Divorce, for example, is just one of those changes where friends say, “I never thought it would happen to me!” A sudden injury, disease, or disability are other changes that are hard to predict. When your life experiences change, your estate plan must also reflect these developments.
- Health First: Health risks for women are much more likely to occur. Cancer and heart disease are equal opportunity risks. If your health declines, you will be thankful for a Healthcare Power of Attorney that sets forth your choices and specific directions. This is an easy step to take now that you will be highly grateful for later.
- Modern Families: More than ever before, families today are blended families. Blended families can bring challenges and complexity because many moving parts and relationships must be considered. Thorough planning now will ensure that everyone is taken care of later, no matter what. If you die before your children’s step-parent, make sure your children still get what was important that you wanted them to have.
- Likely Caregiver: Many of us will have no choice but to step up and become caregivers. This is an uncomfortable truth for many women regarding their spouses. Consider and plan for the possibility before it happens. Having this conversation now will also ease any tough decisions or discussions that will need to be had if the situation arises.
- Boss Ladies: As you build your business, there are ways to protect yourself from the threat of liability. Now that you’re a Boss Lady let’s ensure your business legacy is secure and thriving by having the proper documents in order.
- Single and Rocking It: Estate Plans aren’t just for married folks! If you are single and never tied the knot, it’s crucial to have an estate plan that lets those left behind know the choices you want made when you can’t make your own decisions and after you are gone. Your loved ones will thank you for making these decisions now, so they are not left guessing your wishes.
Estate planning is NOT a form you borrow from a friend. Estate planning is NOT taking chances with online services that warn this is “not legal advice” and “we are not your lawyer.” You are unique. Your family is unique. What you own and what you’ve built is unique. What you leave behind when you exit will be unique. Estate planning is about protecting you and your loved ones with a plan tailored to you and your life. Today is the day to start planning for your future and the probabilities and possibilities.
Let’s chat about crafting a unique plan for you and your legacy. Don’t hesitate to contact us to discuss your specific needs. You can call to schedule an appointment at 719-434-0000.