by Bruce L. Dorner
It’s that time of year. The holiday shopping list is getting shorter and the stress of finding the perfect gift is increasing as the days rush past. Well, even if you made a list, I’ll bet you forgot several very important items for your family.
Let’s see. Is my will current? Gee, it’s been seven years since little Susie was born. Maybe we should have her added to our will? Dad passed away a few years back. I’ll bet we should pick another relative as Executor.
A while back we prepared a list of where all our important papers are stored. All the bank records, investment accounts and documents relating to our house. Wait a minute, that was the old house in the old neighborhood. Maybe we should revise this list to show our current banking and investment accounts!
There was a house fire around the block last year. No one was hurt, but they had a hard time getting a settlement from their insurance company. Maybe we should make a video tape of our house. We could go room-by-room and take pictures of all our possessions. That would help if we had a fire or theft loss.
You know, since I got that promotion, I wonder if I really have enough insurance to protect my family in the event of my death. Maybe I should check both the amount and the beneficiary. When I started working for the company, I wasn’t married. I think my parents were named as beneficiary. Maybe it’s time to name my spouse.
I hate to admit it, but disability is a real risk. It’s hard to believe that my buddy Joe had a heart attack and has been out of work for six months. It’s got to be a real strain on his family. He was glad to have a good disability insurance policy.
With all these lists, I wonder if I really should have a “list of lists.” My spouse isn’t that comfortable with details. It would be helpful if there was a list with all the details about how we manage our money and who we depend upon for advice. Let’s see, that list should probably include our accountant, our lawyer, our banker, our insurance advisor and our financial planner. I guess I should include all the passwords for the computer and on-line accounts too.
I really should review my power of attorney, living will and health care directives. I wonder if they reflect the current state of the law. There have been a lot of new laws over the years and I’m not sure the old documents would work in the event of a crisis.
Phew! I’m tired from making lists. Time for milk and cookies by the fireplace. But at least I know that my family is well protected by current lists of important information.
This article provides general information only. It is not legal advice. You should consult with your own attorney before making any legal decision.