Last Friday, I held my first granddaughter in my arms. Looking down at her wide eyes, taking this new world in, I felt a sense of profound responsibility that I've never felt before in my life. I realized, then and there, that it was time to update my Trust.
Today, my first day back in the office, I took the time to update my Trust, and to make sure that she is provided for in my estate plan.
Time.
It's a luxury that we are all guilty of taking for granted.
Time is something we think we all have in abundance. We think there will be plenty of time to get our affairs in order...yet too many of us find that we are faced with a long to-do list and rapidly approaching deadlines. We put off taking the time to plan, because there are more pressing needs to be dealt with at the time.
A client told me a few months ago that she'd been advised by a nursing home employee that they didn't need to worry about Powers of Attorney for her mother just yet, as they had not gotten to that time" in her level of dementia severity.
No. Just...no.
By the time you get to "that time," it's already too late.
Once a person is unable to make his or her own legal or medical decisions, they can also no longer sign legal documents on their own behalf. This includes powers of attorney, both medical and legal. This also means that they are not able to sign papers creating a Will or a Trust.
When a medical emergency occurs or we face a life-changing event which affects nearly every aspect of our life, we need to have in place a plan to protect our assets and our loved ones. Who will make those decisions for you? Who will have guardianship of your children if you become incapacitated or pass away?
Who will make the medical decisions for your care...and your children's care...if you cannot?
It's time to talk to an Estate Attorney, one who can ensure that your loved ones and you are protected, during and after your lifetime.
Time is a precious and finite thing.
Don't waste your time trying to do everything yourself.
Hire someone to take care of the "heavy work," and realize that, when it comes to time, taking care of what is needed now is far better than waiting until it's too late.
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