The process of estate
planning helps you to gain perspective on your life. Simply
reviewing what you have and what will happen to it when you
are gone encourages reflection on your life philosophies.
It is about you, your family, the people and things that are
dear to you, and how you will distribute your estate to those
who matter in your life.
A well-planned estate affords you peace
of mind as you will no longer worry about the financial security
of those you will leave behind. It is your footprint in the
sand on the beach of life.
By its very nature, estate planning is difficult
to discuss because it forces us to examine our own mortality.
We ask ourselves tough questions: "What do I want to
be remembered for?" "Whose lives do I want to touch
and in what ways?" "Am I becoming the person I really
want to be?" "What ultimately is my life's purpose?"
It is easy to avoid this kind of self-examination
by becoming embroiled in modern day activity traps. People
forsake meaningful relationships, mental and physical health,
or spiritual well being while pursuing the limelight or the
This step requires clients to articulate
exactly what it is they want to accomplish through their estate
plan. Potential obstacles, such as marriage breakdown, long-term
disability, disabled offspring, and loss of employment are
addressed. Solutions might include recommendations such as
setting up inter vivos or testamentary trusts, implementing
an estate freeze, or purchasing life insurance.
This critical step helps you to make sure
that all the right tools are in place. Do you have a will?
Who is the liquidator (executor) of your estate? Do you have
an estate inventory so that the right people know where everything
is? Who should be contacted? Have you made funeral arrangements?
Who holds your mandate (power of attorney) in the event you
are unable to act on your own behalf? These are just some
of the questions that we will help you address.
Now, let's take action by proceeding to
Step 9: The Action