He Did it Wrong and I Have to Pick Up the Pieces
Have you ever come across something that someone else did and you have to fix it? In buying the house that we live in (a ‘used’ house) I’ve run into little things that drive me bonkers. Tiny things that the previous owner did when he was getting things done that were shortcuts, mistakes or assumptions in construction of the finished basement or other elements such as putting exposed wires into a hole in my garage wall… so that when a switch that we never used got bumped it flipped the breaker. These very things have parallels in the world of finance. Not necessarily for every person but consider some situations with me.
What if you as a parent (assuming you are one) were killed along with your children’s other parent. Would your legal and financial life be left in order for your surviving children? Or would any adult left to pick up the pieces be left with confusion and a pile of debt? There are things I need to get done to have my financial and legal house in order. Things I should have done long ago. If something happens to me I don’t want my wife or anyone else left after me to have to deal with my own laziness or stupidity after the fact.
I need to get my will finalized so that I can make sure that our children are taken care of appropriately. I need to take care of ‘pulling the plug’ orders in case I’m incapacitated, but not dead. I also need to make sure that I have written some personal letters to a few people. I have two letters that I have already written to my daughters to give them when they get married (or if they don’t I’ll give it to them later on in their lives). Letters to let them know about my recollection of their birth from the time they turned one year old. Those letters are not financial or legal documents, but I need to make sure that they’re in safe places that can be found and opened and are in the instructions of the will.
What else in your life has room for thinking ahead and doing it right? The not doing it right could have long term, painful consequences. Consider your family and friends and get your stuff in order. My list is on my desk ready for me to take charge of it as soon as possible so that I can sleep at night knowing that if I die… everything will go on without even more pain for my wife or children or extended family. I’m not much for half-done jobs anyway.
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