Where are you hiding assets? Are they stored away in a locked trunk in your attic? Are they located in boxes stacked on the back wall of your moldy basement? Or did you pile your valuable art and antiques in an off–site storage unit located two towns over from your house?
Planning for death
What does Dad want? Have you asked? How about Mom? Does anyone know what her wishes are? Has anyone asked her? And is anyone really listening to what they are saying?
Life can turn on a dime. Incapacity happens. Wouldn't it be better to take some time now to get prepared? There is no time like the present to ask questions and get some answers. It’s never too late until it really is too late!
If you think you have run out of things to talk about with your adult kids, how about a worthwhile chat about incapacity and death? That’s certainly going to get their attention and a photo worthy reaction…usually a wide-eyed look that says “it’s time to head for the hills”!
We need, however, to ensure that our next of kin are fully prepared and understand what we want should we become incapacitated or die.
Dr. Jennifer Brokaw recently suggested to colleague Barbara Bates Sedoric that the LastingMatters audience would appreciate her "Wonderful Life" Blog Post.
Barb agrees and here it is:
Every day, we hear about the many challenges of an aging population. With advancing age comes those hard-to-discuss end-of-life planning issues, something with which financial advisers are all too familiar. And we know most advisers want to help.
However, there is one factor that is often overlooked in these discussions: blended families.