While the past year has been a difficult for many of us, there is still much for which we can be grateful. As the pandemic hopefully recedes and out country re-opens, let’s be grateful for the food on our table and the companionship of our loved ones around us.
While the pandemic has altered our lives in many ways, we should still give thanks for the many good things in our lives.
As life returns to some degree of normality, it may be a good time to thank those whom you’ve asked to play a role in your estate plan. Many trusted people play a role in your estate plan. A typical estate plan has successor trustees who carry out your wishes expressed in your trust when you’re unable to act as trustee. In a typical plan, you’d have agents who would make decisions for you under a Financial Power of Attorney when you’re unable to make your own financial decisions. You’d have agents who’d make decisions for you under a Healthcare Power of Attorney when you’re unable to make those decisions yourself. Finally, you’d have personal representatives who’d make sure the wishes expressed in your Will are carried out and Guardians whom you’ve nominated to care for any minor children.
While you can have a wonderful estate plan, it takes the people whom you’ve trusted to play a part in your plan to carry out the wishes you’ve expressed in your plan. Now is a great time to remind them of the role they’ve agreed to play and to thank them for playing such an important and trusted role in your life.
It is always good to periodically stop and reflect on our lives and the people in it who bring our life meaning. While this past year has brought hardships to many, it also shows us just how precious our loved ones are. Be sure to thank your loved ones for being a special part of your life.
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- Beneficiary Designations - July 13, 2021