While still reflecting on the wonderful Christmas celebrations with family, we start to look at the New Year ahead. Most of us are busy thinking through New Year’s resolutions and writing down goals to be accomplished in 2016.

It’s fun to write down our goals for things that may or may not happen. But most of us fail to plan for WHAT WILL HAPPEN!   You see, one out of one people die and only God knows when that will be!  It could be tomorrow or 40 years from now. Since we don’t know when that day will be, it is so important to plan for how your family will carry on without you.

We love our families and have just spent time and money on gifts and celebrations just this week to show our love. Take that love for your family a step further in 2016 by planning and preparing The Family Legacy Drawer.

Planning for when we are no longer around never seems to reach a position of high priority. MAKE IT YOUR #1 PRIORITY FOR 2016. It’s the perfect way to show your family how much you love them and I will help you to create The Family Legacy Drawer step by step!!

Each month my blog will be on one section of The Family Legacy Drawer.  Take the information and create that section of your legacy drawer.  By the end of 2016 your family legacy drawer can be complete!!!   What a great family gift for your 2016 Christmas!!!

So let’s get started………

The most important document in The Family Legacy Drawer will be your Will.  No matter how large or small your family or fortune, you need a Will.  Depending on your situation, you may want additional legal documents to carry out your estate plan.  Listed below is a brief overview of some basic estate planning documents.

Will

The simplest legal document you can use to leave your property to others after your death.

• Name an executor – person who will wind up your affairs after death
• Name your beneficiaries – people who will inherit your property
• Name a Guardian – person designated to care for minor children

Property left by a will must usually go through probate court proceedings

Living Trust

Allows property to quickly and efficiently pass to the beneficiaries you name without the trouble and expense of probate court proceedings because property is titled in the living trust.

Health Care Directive

Naming someone to make health care decisions for you when your doctor has determined that you lack the ability or capacity to make the decisions for yourself.

Power of Attorney

Appointing someone to act as your legal agent in the event you become incapacitated.

Please get proper legal counsel!   Yes there are do-it-yourself kits, but they cannot give you all the information and advice to cover your specific circumstances.  The law is so complex! Do yourself and your family a favor by contacting an estate attorney.  They will serve you well, help you avoid family squabbles, and minimize taxes.   If you would like a referral for an attorney, send me an email at mary@marykeenanconsulting.com.

Put this task on your January to-do list. If you already have an estate plan this would be a good time to review it to be sure it is up-to-date!   Congratulations!!   You have started the first and most important part of The Family Legacy Drawer!