691: TAKING CARE OF YOUR FINANCIAL FUTURE

“Planning is bringing the future into the present so that you can do something about it now.” —Alan Lakein

Disclaimer: We are NOT financial advisors, attorneys, or estate planners. Please consult with your own professionals to determine what is best for the two of you.

Taking care of your financial future can be an interesting process. Depending on how old you are, if you have kids, how old they are and, of course, what the world looks like right now, that process can be in various states of organization or chaos.

One area specifically that many don’t discuss regularly is the idea of having an estate plan.

What does it mean to plan your estate?

Estate planning is the process of anticipating and arranging, during a person’s life, for the management and disposal of that person’s estate during the person’s life, in the event the person becomes incapacitated and after death.

And there are two words in that definition that keep most people from taking action: incapacitation and death.

Not a single one of us wants to think about being in a state of being incapacitated and unable to decide for ourselves, or even death. But while not everyone will become incapacitated, death is most decidedly a certainty in this life.

Working through creating an estate plan is one of the most significant ways that a couple can build their financial intimacy through their emotional intimacy. But where do you get started?

Begin by acknowledging that there will be some tough conversations. No one wants to talk about his stuff, but you have to talk about this stuff. Building this level of financial intimacy about the future is going to strengthen your emotional intimacy.

Find a professional that you trust, who will be able and available to answer your questions and journey this process with you.

Always start small. You don’t have to tackle the entire estate plan in one sitting. In fact, it’s likely going to take some time to get through everything.

Then, most of all, set a date to complete it. This is one of those tasks that could easily just keep getting put off… don’t. It really affects those that you will leave behind.

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