Do Statistics Paint A Clear Picture?
Written by Stacey Golden-Lisnock
Financial Advocate
Financial Advocate
In my family, all of the elders have passed on. My siblings and I are next up, which in and of itself is a hard concept to grasp. And like many of you reading this article, I’ve seen plenty of sickness, accidents, and have attended many funerals of people who just plain expired of old age.
I recently came across the box of all the funeral cards I saved over the years, there are a lot of them. Each one brings back a memory of that person and the lasting impression I have engraved in my mind of their life and our relationship. Each person has their unique legacy based on how they lived and what they left behind.
Do you ever think about those who have passed on? If you have saved funeral cards, when is the last time you looked through them? If it’s been some time ago, dig them up and take a walk down memory lane. What do you remember about each person?
As a financial professional with over 30 years of planning experience in the financial services industry, I’ve seen how people seem to think that time is unlimited and the best time to get stuff taken care of is tomorrow.
We tend to turn a blind eye to the reality that bad stuff happens in life.
Somehow by not being prepared we are saying, “it won’t happen to me”. It’s so silly because that would be like most people not having a spare tire with them (just) in case they get a flat tire. After all, being stranded in the middle of nowhere without the spare could mean imminent death.
I recently came across the box of all the funeral cards I saved over the years, there are a lot of them. Each one brings back a memory of that person and the lasting impression I have engraved in my mind of their life and our relationship. Each person has their unique legacy based on how they lived and what they left behind.
Do you ever think about those who have passed on? If you have saved funeral cards, when is the last time you looked through them? If it’s been some time ago, dig them up and take a walk down memory lane. What do you remember about each person?
As a financial professional with over 30 years of planning experience in the financial services industry, I’ve seen how people seem to think that time is unlimited and the best time to get stuff taken care of is tomorrow.
We tend to turn a blind eye to the reality that bad stuff happens in life.
Somehow by not being prepared we are saying, “it won’t happen to me”. It’s so silly because that would be like most people not having a spare tire with them (just) in case they get a flat tire. After all, being stranded in the middle of nowhere without the spare could mean imminent death.
We all do this procrastination dance and I am guilty, too. But, sometimes we are fortunate and get a wake-up call! And that is exactly what happened to me.
On December 31st, 2017 I was rushed to the emergency room by ambulance. The urgent visit doctor believed I could have a life-threatening syndrome.
On December 31st, 2017 I was rushed to the emergency room by ambulance. The urgent visit doctor believed I could have a life-threatening syndrome.
But prior to this incident I also preferred to believe there was plenty of time to get certain things done. The things I am speaking of are those legal documents and personal wishes that we expect won’t be needed for many years.
After my illness and the long journey back to my new normal, I now know that thinking there is unlimited time can have dire consequences especially when life or death decisions must be made without knowing the wishes of the person. Not only can making these decisions be traumatic, but these types of decisions can also break families apart, remember the Terri Schiavo case that lasted 15 years? (If you have no recollection of this case, take a moment and look it up. It is an extreme example of what can happen when proper documents don’t exist.)
After my illness and the long journey back to my new normal, I now know that thinking there is unlimited time can have dire consequences especially when life or death decisions must be made without knowing the wishes of the person. Not only can making these decisions be traumatic, but these types of decisions can also break families apart, remember the Terri Schiavo case that lasted 15 years? (If you have no recollection of this case, take a moment and look it up. It is an extreme example of what can happen when proper documents don’t exist.)
When the health status of a person changes, there can quickly be a series of unexpected and tragic consequences. Pets can be hauled off to the pound once the owner is moved to a nursing home or passes away 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 due to unpaid property taxes.
Do you have an assigned person who checks in on you? Do you keep an eye on anyone dear to you?
The COVID-19 pandemic has made us all aware of our mortality, unlike ever before. We were so unexpectedly hit by it and it affected every single one of us.
But prior to COVID-19, almost 900 people died for every 100,000 people according to the data of U.S. deaths for 2019. The #1 and #3 causes were heart disease and accidents. Either could stop you in your tracks without warning which reminds us that no one is guaranteed tomorrow.
Yesterday is past and today is a present. You never know when things will change. So many things can and do happen without warning. That’s when the chaos begins and it’s real (bad) when it happens in your family or someone close to you.
It may seem so obvious, but the time to get everything up to date and in order is when you are healthy and cognitively sharp. Yet even with these statistics and the firsthand experience of attending many funerals, the majority of us have failed to take action to ensure our family is not put in a panic and frenzy if the worst should happen.
A good percentage of you have had a health setback or accident that put you out of commission for a while. Or perhaps you had a health scare. How did that change your life? What happened to your daily routine? Were you calling and scheduling doctor visits and dealing with the insurance company and pharmacy and the lab for blood work or other tests? Did that feel so odd at first? Did anything on your busy schedule happen? Or did your life take a sharp left turn?
Whatever you’ve been through, you know how it could have turned out, but it didn’t. You are still here and you have time to get yourself organized and up-to-date, finally!
I believe that the statistics paint a pretty clear picture. One poll that I recently saw reported the following in regard to having an estate plan in place.
(Estate Planning includes the legal documents that allow for the transfer of assets and other important documents with authorizations and details if a person should become incapacitated or pass away. Without an estate plan in place, there is no way to transact on someone else’s behalf without involving lawyers and the courts.)
Now for the statistics: (they are believed to be accurate – or close)
In the United States, 55% die with no will or estate plan of any kind. And almost 72% of those who have done a will, it is out of date (meaning the information is no longer correct). Imagine that. And for those in the senior citizen category (over 65 years old), 50% either don’t have a will or the one they have is not up-to-date.
Do you have an assigned person who checks in on you? Do you keep an eye on anyone dear to you?
The COVID-19 pandemic has made us all aware of our mortality, unlike ever before. We were so unexpectedly hit by it and it affected every single one of us.
But prior to COVID-19, almost 900 people died for every 100,000 people according to the data of U.S. deaths for 2019. The #1 and #3 causes were heart disease and accidents. Either could stop you in your tracks without warning which reminds us that no one is guaranteed tomorrow.
Yesterday is past and today is a present. You never know when things will change. So many things can and do happen without warning. That’s when the chaos begins and it’s real (bad) when it happens in your family or someone close to you.
It may seem so obvious, but the time to get everything up to date and in order is when you are healthy and cognitively sharp. Yet even with these statistics and the firsthand experience of attending many funerals, the majority of us have failed to take action to ensure our family is not put in a panic and frenzy if the worst should happen.
A good percentage of you have had a health setback or accident that put you out of commission for a while. Or perhaps you had a health scare. How did that change your life? What happened to your daily routine? Were you calling and scheduling doctor visits and dealing with the insurance company and pharmacy and the lab for blood work or other tests? Did that feel so odd at first? Did anything on your busy schedule happen? Or did your life take a sharp left turn?
Whatever you’ve been through, you know how it could have turned out, but it didn’t. You are still here and you have time to get yourself organized and up-to-date, finally!
I believe that the statistics paint a pretty clear picture. One poll that I recently saw reported the following in regard to having an estate plan in place.
(Estate Planning includes the legal documents that allow for the transfer of assets and other important documents with authorizations and details if a person should become incapacitated or pass away. Without an estate plan in place, there is no way to transact on someone else’s behalf without involving lawyers and the courts.)
Now for the statistics: (they are believed to be accurate – or close)
In the United States, 55% die with no will or estate plan of any kind. And almost 72% of those who have done a will, it is out of date (meaning the information is no longer correct). Imagine that. And for those in the senior citizen category (over 65 years old), 50% either don’t have a will or the one they have is not up-to-date.
Do you have your will together? Is it more than 5 years old? Is it more than 10 years old? Do you know how a will operates? It operates through the court$.
In America, we make things harder on ourselves and our family than it needs to be. Besides facing emotional stress and grief at the passing of a loved one, there are other costs that come barreling in when an up-to-date estate plan is not in place.
The estate pays $34,000 on average in probate fees and if the funeral arrangements are not pre-paid then the estate will pay inflated prices for a short notice purchase of the final resting place.
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. We want to avoid the mistakes of others.
In America, we make things harder on ourselves and our family than it needs to be. Besides facing emotional stress and grief at the passing of a loved one, there are other costs that come barreling in when an up-to-date estate plan is not in place.
The estate pays $34,000 on average in probate fees and if the funeral arrangements are not pre-paid then the estate will pay inflated prices for a short notice purchase of the final resting place.
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. We want to avoid the mistakes of others.
So to be part of the solution, I put together a program for people who care about having the important things ready before they become urgent. If you just follow the plan, you’ll get important legal and personal information current and complete once and for all.
I realize we each have unique situations and even the family dynamic is a big piece of the puzzle. But, whether you are aware of it or not we all are creating our legacy every day and without taking any action to be prepared in advance of a health crisis, accident, or death, you’ve made a decision to leave a disorganized mess for someone else to deal with. And that is NOT the definition of a stress-free legacy.
If this article motivated you to learn more on this topic, please send me a text (714-642-1771) and I will gift you a 30-minute consultation to determine where you are in the process of having the best possible legacy for your family. There is no obligation to work with me, and I may be able to give you valuable insight and resources during our time together.
Thank you for taking the time to read this article. It may be the most important thing you did today.
I realize we each have unique situations and even the family dynamic is a big piece of the puzzle. But, whether you are aware of it or not we all are creating our legacy every day and without taking any action to be prepared in advance of a health crisis, accident, or death, you’ve made a decision to leave a disorganized mess for someone else to deal with. And that is NOT the definition of a stress-free legacy.
If this article motivated you to learn more on this topic, please send me a text (714-642-1771) and I will gift you a 30-minute consultation to determine where you are in the process of having the best possible legacy for your family. There is no obligation to work with me, and I may be able to give you valuable insight and resources during our time together.
Thank you for taking the time to read this article. It may be the most important thing you did today.
Visit www.GotItTogetherNow.com
cell/text: 714-642-1771
email: gitnow123@gmail.com
Stacey Golden-Lisnock is a Financial Advocate who is dedicated to helping people to leave a stress-free legacy. Prior to creating the Got It Together Now! – Emergency Info File Course, she was a Certified Financial Planner (CFP) for over 30 years. After being ill in 2018, she changed her focus from Financial Advisor to Financial Advocate. She enjoys educating people and motivating them to take action on important topics. She hosts a weekly podcast, Legacy Therapy.
Got It Together Now! – Emergency Info File Course:
Just 7 modules with structure, guidance, and accountability. You’ll get important legal and personal information current and complete once and for all.
Send me a text 714-642-1771 to book your 30-minute consultation (gift) to see where you are in the "being prepared" process.
cell/text: 714-642-1771
email: gitnow123@gmail.com
Stacey Golden-Lisnock is a Financial Advocate who is dedicated to helping people to leave a stress-free legacy. Prior to creating the Got It Together Now! – Emergency Info File Course, she was a Certified Financial Planner (CFP) for over 30 years. After being ill in 2018, she changed her focus from Financial Advisor to Financial Advocate. She enjoys educating people and motivating them to take action on important topics. She hosts a weekly podcast, Legacy Therapy.
Got It Together Now! – Emergency Info File Course:
Just 7 modules with structure, guidance, and accountability. You’ll get important legal and personal information current and complete once and for all.
Send me a text 714-642-1771 to book your 30-minute consultation (gift) to see where you are in the "being prepared" process.
