Getting Organized in 2018 – Things you can do now to make 2018 your best year yet!
Happy New Year! In this edition of our blog, we wanted to recognize the new year of 2018, and give you some tips on how to get organized. First and foremost, resolutions are great. Goals are always inhibitors of the action, and creating goals is an organizational tool that can be applied to all facets of life. However, along with your resolutions (especially for the new year, new you), focus on some goals that aren’t traditionally associated with the excitement that the new year brings. Focus on long-term planning benefits, how the months to come will affect you and your loved ones and even for the end of the year. Enjoy all of the novelties that new years brings, but don’t forget about the longevity of your goals and how they will look in the later months.
1. Trust in your Trust.
So maybe you have an existing trust that needs a slight amendment (i.e. minor change in information that does not substantially affect the document itself) OR maybe you need a complete restatement (i.e. think of a brand-new trust document with substantial changes) OR maybe you are ready to take the leap into the estate planning world and establish a trust for the very first time. Wherever you land on that scale, take some time to review your documents. Note any changes that you would like to be made, communicate these wishes with your estate planner and update your trust! Getting this out of the way now can give you peace of mind for the remainder of the year, but also secure your assets that you have obtained and guarantee that your trust is properly funded to avoid any probate issues. Even if you have an existing trust that doesn’t have any changes, it is still beneficial to check in with your estate planning attorney to get any updates on the law or any updated recommendations for your trust.
2. Your Health Care Decisions
One of the most important things on a human level is to get the kind of care you want in your time of need. Healthcare Power of Attorneys designate who makes a healthcare decision for you in the event that you cannot make one for yourself, and what kind of measures would you want taken in emergent circumstances. This document insures that your wishes are regarded with the utmost priority and gives an individual of your choosing the power to impose your wishes if necessary. This is not only a measure taken that makes your life easier and rest assured, but also eliminates possible conflict amongst loved ones that may have different opinions on your care if the situation arises. This form is simple, is included in your trust documents when you establish your trust but can also be provided to you on its own if you wish. This document is simple to fill out and is one that is imperative for everyone.
3. Money Issues— who decides??
Along with a Healthcare Power of Attorney, one should also get a Durable Power of Attorney. This document functions the same as the Healthcare Power of Attorney but deals only with financial matters in the even that you are not around or not able to make fiscal decisions. The major difference here is that you may not choose the same person to be your Durable Power of Attorney as you did to make your healthcare decisions. You want to appoint someone who is financially responsible and understands your economic situation and your wishes in regards to where your money goes. Like the Healthcare Power of Attorney, this document is fairly simple to complete and is offered with your trust document or on its own.
4. Social Media Woes.