Educate Yourself

Plan Now – Do It Before You Need To

Often it is more difficult for women than it is for men to take charge of the family’s estate planning; to want this responsibility.  In many marriages the husband is still more accustomed to making business decisions and dealing with advisors, attorneys, accountants, and financial planners.  As a result, the wife may defer to her husband on estate planning… Which is a shame because, since women are still outliving men by seven years, the probabilities are that she is the one who will either benefit or suffer from the estate planning decisions that are made. So the first order of business is: Educate yourself.

If you have done some planning already gather together the legal documents that have already been drafted –

  • How old are they?
  • Do they still make sense?
  • If your husband predeceases you, who is in charge?
  • What do you have access to?
  • What are the restrictions?
  • Do you know who the family advisors are? And have you met them? (lawyer, accountant, insurance professional, financial planner, business advisor)

Start to Plan

It is important to start to take that first step and start to protect yourself and plan. That first step will be different for everyone – it may be having a discussion with your husband to review what you have already done, it may be setting up an appointment with a lawyer or financial planner to bring your documents current or it may be increasing your current life or disability insurance.

The challenge is to start to plan when there is no need to do it.

Take that important first step and start – the next step is always easier.

Take the time now to Educate Yourself. If you have any challenges or need additional information please feel free to comment below.


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