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Estate Planning Basics: 4 Must Have Docs

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Reading Time:  2  minutes

Each year we hear about celebrities, loved ones, and friends that die without the estate planning basics in place. It is a fact that nearly 2 out of 3 Americans die without an estate plan in place.

In this short video (aired previously on my YouTube Channel), I share with you the 4 most important documents for your estate protection and financial life.

As a financial advisor, I realize the extreme importance of addressing this issue.  So I admonish you on this long Easter weekend to take some time and consider your own plans and make all the necessary preparations.  


It was the call we all dread to receive…

You know which one.  The one at 2 AM in the morning.

Your grogginess meets a voice on the other end–emotional and distraught–immediately waking you out of your drowsiness to ask the question: “what’s wrong?”

You recognize the voice immediately, it’s your best friend and she manages to tell you through her pain that her husband of 20 years has just passed away in his sleep. She’s an emotional wreck and needs you to come over.

By this time your husband is stirring and asks what’s wrong.

You relay the bad news and he’s just as shocked as you are.  After all, you guys were just sharing a bottle of wine a couple of weeks ago with this couple on your patio.

Everything seemed fine…

Your husband says the next thing that comes to his mind. “Jim was just 45, right?”

You return, “Yes. He would have been 46 this June.”

You throw some clothes on and head out the door.

As you’re in the car, the emotions of the moment begin to set in and you start to think about your own mortality.

How could this happen to someone you know that was so young?

Did he have a health condition?

What will the kids and Sarah do now?

Are they ok financially?

Will they have to move?

A million questions flash through your mind as you pull up in her driveway to a blur of flashing lights and emergency vehicles.

This is not a dream.

It’s real. It’s happening.

It just happened to your best friend and her family.

Sarah’s eyes meet yours as you approach the front door.  Each of her two small children embracing her legs as their confusion explains the moment.

Although you know you need to be there for your friend, the only thing you can think about right now is: “what if this happened to me?”

 

What’s Your Situation?

This fictional story is a compilation of events from my own personal life designed to help you think about the importance of creating an estate plan for yourself.

I’ve put together 20 questions you can ask yourself to help you frame how you should be thinking about your estate.

These questions will also help you prepare prior to meeting with an attorney to complete your estate plan.

To download a copy, click here.

My hope is that after you complete this exercise, you will feel more prepared than ever before for the unexpected.

 

To your success and contentment,

Dominique Henderson

 

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About Me

As an advocate for financial education, I love to share my knowledge in a “jargon-free” way to help you understand what it will take to win with your money!

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