How to Avoid Risk and Promote Family Peace
During an appointment with his cardiologist, a patient indicated frustration with one of his medications. “Which one?” the doctor asked. “The patch. The nurse told me to put on a new one every six hours and now I’m running out of places to put them!”
Sometimes details get lost in translation. For instance, we all know there is a particular timeline for health screenings and routine procedures we need to consider as we age, but sometimes important ones slip through the cracks – and can put us at risk.
There’s another important life detail we need to keep updated as we age: our estate plan. Did you know nearly 70 percent of Americans do not have an up-to-date will? Good estate planning may help you avoid:
- Legal risks. Your will could help loved ones avoid delays in receiving an inheritance or property and be able to pay any outstanding bills associated with your care in a timely manner. Plus, there are numerous tax reduction strategies to maximize the amount your family receives if you plan wisely.
- Relational risks. Many families have fallen into stress and strife over a disputed will, but a parent who ensures their ‘affairs are in order’ creates peace for their loved ones. Plus, an up-to-date will allows you to name a guardian for any minor children so you can be sure they’re well taken care of by the individuals of your choosing.
- Financial risks. Ensure your loved ones are provided for and keep your estate from becoming tangled up in expensive probate proceedings.
- Legacy risks. By taking time to think through your estate plan in light of your values, you may discover you’d like to leave a gift in your will to an organization you appreciate. Your will can be a great place to communicate a legacy of personal faith. It’s a heart-level opportunity not to be missed.
Is it time to create or update your will? You can avoid risks, experience comfort,
and have peace knowing your plan is healthy and strong.