Those types of decisions can break families apart. Pets can be carted off to the pound once the owner passes away or is moved to a nursing home IF prior arrangements haven’t been made. Children can end up in foster care. Insurance policies can get canceled for non-payment if a person falls ill or suffers from dementia and fails to keep up with the bills. Houses can go into foreclosure or even be sold out from under the owner as a result of unpaid property tax.
Since we don’t know how much time is left, does it seem reasonable to say that the time to get everything up to date and in order is when you are healthy and cognitively sharp? It is never too early to get this done, but it can definitely be too late.
Do you know the statistics on dementia? Last I heard – and you can check Google to see if I’m right – I heard that 1 in 3 seniors (over age 80) will have some form of dementia. The one we hear most about is Alzheimer’s. Remember those people were like you and me not too long ago. It is happening to 33% of the senior population. They are living out their lives in a detached reality. That alone should be very concerning to people, but again the blind eye gets credit here and most people are not prepared if this should happen to them.
Because of my personal story combined with my years as a financial planner I’ve been fortunate to be able to teach others what I have learned. As a bonus, I have turned out to be a pretty good resource for referrals and resources of other needed services.
This topic has become my passion. So I put together a program for people who care about having the important things ready before they become urgent.
I’m aware that we each have unique situations and the family dynamic is a big piece of the puzzle.
But, whether you realize it or not we all are creating our legacy. And without taking any action to be prepared in advance of a health crisis, accident, or death, you’ve made an (unconscious) decision to leave a disorganized mess for someone else to deal with. And that is NOT the definition of a stress-free legacy, is it?