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When You Know You Are Dying
Just Found Out I’m Dying… Now What?When Sam and Sandy got the bad news from Sam’s doctor… He had cancer, and, even with the newest and most aggressive treatments, the survival rate was less than 5%. Sam knew that it was highly unlikely that he would survive for very long. His thoughts turned to Sandy and their family.Throughout their 35 years of their marriage, Sam had managed the finances. He managed everything from their investment portfolio to their real estate business and their monthly bills. Sandy had little or no interest in managing the investments and since Sam loved to fix whatever needed to be fixed in the rental properties, Sandy was happy to leave it all to Sam. Sandy is somewhat frugal, she is by no means a spendthrift. Sam’s income had always covered the bills, everything the family needed, and anything Sandy ever really wanted. Sam always believed it was his primary purpose in life to provide for his family and that included carefully managing everything in their financial life.
Preparing for Next StepsUnfortunately, this situation is all too familiar to me, to my family, and in my https://bayrockfinancial.com/ (business). Several times each year, either a family member, a client, or someone close to one of my clients, passes away. Frequently individuals who have been recently widowed reach out to me for help in getting their financial affairs in order so they can confidently face what lies ahead.
Estate Planning Document ReviewEstate planning is a critical aspect of the financial planning process. Reviewing your estate planning documents is an important exercise, both at the outset and throughout the planning process. However, this can be a daunting task for you, your family, and your advisors, who may find the exercise tedious and, perhaps, confusing.
To help guide your document review, we have created this https://checklist2021.s3.us-east-2.amazonaws.com/Reviewing-My-Estate-Planning-Documents-What-Issues-Should-I-Consider-2021-Checklist.pdf (Estate Planning Document Review checklist). It covers key considerations regarding the most common estate planning documents, including:
Wills
Living Trusts
Irrevocable Trusts
Powers of Attorney
Living Wills
To pair with this resource, or to guide a more general discussion with your family and Financial Advisor, please see our https://checklist2021.s3.us-east-2.amazonaws.com/Before-I-Update-My-Estate-Plan-What-Issues-Should-I-Consider-2021-Checklist.pdf (What Issues Should I Consider Before I Update My Estate Plan?) checklist.
Visit Missional Money Planning https://missionalmoney.com/library (Resource Library) (Updated for 2021)https://www.youtube.com/channel/UCnTvrv4vaxzHPc4FV8XANuw (Watch on YouTube )https://missionalmoney.com/financial-planning/when-you-know-youre-dying/ (Read it at MissionalMoney.com)
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By Jim Munchbach
4.4
1010 ratings
Just Found Out I’m Dying… Now What?When Sam and Sandy got the bad news from Sam’s doctor… He had cancer, and, even with the newest and most aggressive treatments, the survival rate was less than 5%. Sam knew that it was highly unlikely that he would survive for very long. His thoughts turned to Sandy and their family.Throughout their 35 years of their marriage, Sam had managed the finances. He managed everything from their investment portfolio to their real estate business and their monthly bills. Sandy had little or no interest in managing the investments and since Sam loved to fix whatever needed to be fixed in the rental properties, Sandy was happy to leave it all to Sam. Sandy is somewhat frugal, she is by no means a spendthrift. Sam’s income had always covered the bills, everything the family needed, and anything Sandy ever really wanted. Sam always believed it was his primary purpose in life to provide for his family and that included carefully managing everything in their financial life.
Preparing for Next StepsUnfortunately, this situation is all too familiar to me, to my family, and in my https://bayrockfinancial.com/ (business). Several times each year, either a family member, a client, or someone close to one of my clients, passes away. Frequently individuals who have been recently widowed reach out to me for help in getting their financial affairs in order so they can confidently face what lies ahead.
Estate Planning Document ReviewEstate planning is a critical aspect of the financial planning process. Reviewing your estate planning documents is an important exercise, both at the outset and throughout the planning process. However, this can be a daunting task for you, your family, and your advisors, who may find the exercise tedious and, perhaps, confusing.
To help guide your document review, we have created this https://checklist2021.s3.us-east-2.amazonaws.com/Reviewing-My-Estate-Planning-Documents-What-Issues-Should-I-Consider-2021-Checklist.pdf (Estate Planning Document Review checklist). It covers key considerations regarding the most common estate planning documents, including:
Wills
Living Trusts
Irrevocable Trusts
Powers of Attorney
Living Wills
To pair with this resource, or to guide a more general discussion with your family and Financial Advisor, please see our https://checklist2021.s3.us-east-2.amazonaws.com/Before-I-Update-My-Estate-Plan-What-Issues-Should-I-Consider-2021-Checklist.pdf (What Issues Should I Consider Before I Update My Estate Plan?) checklist.
Visit Missional Money Planning https://missionalmoney.com/library (Resource Library) (Updated for 2021)https://www.youtube.com/channel/UCnTvrv4vaxzHPc4FV8XANuw (Watch on YouTube )https://missionalmoney.com/financial-planning/when-you-know-youre-dying/ (Read it at MissionalMoney.com)