Getting Your Affairs in Order

A Simple Place to Start

Most of us know there are things we should have in place for ourselves and our families.

The harder question is knowing what those things actually are.

If something happened to you unexpectedly, would the people you love know what to do?

Would they know where to find your important information, who should make decisions, what you want to happen, and whether everything you have put in place will actually work the way you intended?

Getting your affairs in order doesn't have to happen all at once.

Let's start by looking at the important pieces.

Quick Check: Are Your Affairs in Order?

Take a moment and see how many of these you can confidently say yes to:

• I know who would handle my financial matters if I could not.
• I know who would make health care decisions for me if I could not speak for myself.
• I have a will, trust, or other estate planning documents in place.
• My beneficiary designations are current.
• My family knows where to find my important documents.
• My accounts, property, and other assets are coordinated with my estate plan.
• If I have a trust, I know whether my assets are properly connected to it.
• The people I have chosen to help know they have been chosen.
• My plan still reflects my current wishes.
• My family would know who to contact and what to do if something happened to me unexpectedly.

How did you do?

You may have checked every box.

You may have found a few areas you are not completely sure about.

Or you may have realized there are some things you have been meaning to take care of.

That is exactly what this page is here to help you think through.

You do not need to solve everything today.

The first step is simply knowing where you stand.

What Does “Getting Your Affairs in Order” Actually Mean?

It means making sure the important parts of your life are organized so the people you trust know what to do if you become seriously ill, unable to make decisions, or die unexpectedly.

For most families, that includes things like:

• Knowing who should make financial decisions if you cannot

• Knowing who should make health care decisions for you

• Having a will or trust that reflects your wishes

• Making sure beneficiary designations are current

• Knowing where important financial and legal documents are kept

• Making sure your home, accounts, and other assets are handled the way you intend

• Leaving clear instructions for the people you love

• Making sure a trust, if you have one, is actually connected to the assets it was meant to protect

You do not have to have everything completed today.

The first step is simply knowing what you already have in place, what may still be missing, and what deserves a closer look.

Would Your Family Know What to Do?

Sometimes the easiest way to know whether your affairs are truly in order is to look at things from your family's point of view.

If something happened to you unexpectedly:

• Would your family know where to find your important documents?

• Would they know who is supposed to make financial decisions?

• Would they know who should make health care decisions for you?

• Would they know what accounts, insurance policies, property, and other assets you have?

• Would they know who your beneficiaries are supposed to be?

• Would they know whether you have a will or trust?

• If you have a trust, would they know what is actually owned by it?

• Would they know who to contact for help?

You may already have many of these things handled.

You may also discover there are a few areas you have been meaning to take care of.

Either way, knowing where you stand is a good place to begin.

The Documents Most Families Should Know About

You do not need to become an estate planning expert.

But it helps to understand what the main documents are supposed to do.

Last Will and Testament
A will explains who should receive certain property after your death and can name a guardian for minor children. A will does not automatically keep an estate out of probate.

Revocable Living Trust
A living trust can help manage and transfer assets during your lifetime and after death. When properly created and funded, it can help keep certain assets out of probate.

Financial Power of Attorney
This allows someone you trust to handle financial matters for you if you are unable to do so yourself.

Health Care Power of Attorney
This allows someone you trust to make medical decisions for you if you cannot make them yourself.

Advance Health Care Directive
This gives guidance about the type of medical care you would or would not want in certain situations.

Having these documents is important.

But having the documents is only part of the job.

They also need to reflect your current wishes, be easy for the right people to find, and work together with the way your assets and beneficiary designations are set up.

What About Your Accounts, Property, and Beneficiaries?

Estate planning is not only about legal documents.

It also involves making sure your property, accounts, and beneficiary designations are set up to work with your plan.

Take a moment to think about:

• Your home and other real estate

• Checking and savings accounts

• Investment and brokerage accounts

• Retirement accounts such as IRAs and 401(k)s

• Life insurance policies

• Vehicles

• Business interests

• Personal property

• Beneficiary and transfer-on-death designations

The important question is not simply, “Do I own these things?”

It is:

If something happened to me, would these assets go where I intend them to go, in the way I intend them to go?

This is one reason beneficiary designations and account ownership matter so much.

The documents are only one part of the plan. Your accounts, beneficiary designations, and property also need to work with them.

What Happens to Your Accounts When You Die?

Bank accounts, retirement accounts, insurance, subscriptions, passwords, and digital accounts may all be handled differently.

But there is an even more basic question:

Would your family know what accounts and policies you have in the first place?

If You Already Have a Trust, Is It Actually Funded?

Creating a trust is an important step.

But the trust can only control the assets that are properly connected to it, or otherwise coordinated with it.

That may involve things such as:

• Making sure certain property is titled correctly

• Reviewing bank and investment accounts

• Checking beneficiary designations

• Confirming how real estate is owned

• Reviewing transfer-on-death or payable-on-death instructions

• Making sure your current assets still match the plan you created

Many people complete their trust documents and assume the job is finished.

A better question is:

Will the assets you own actually follow the plan you created?

That is something worth knowing before your family has to find out later.

What Information Would Your Family Need?

Even when the legal documents are in place, your family may still need practical information to know what to do next.

Think about whether the people you trust would know where to find:

• Your estate planning documents

• Contact information for important professionals

• Bank and investment account information

• Life insurance policies

• Retirement account information

• Deeds and property records

• Health insurance and medical information

• Information about debts or recurring bills

• Important usernames, passwords, or instructions for accessing digital accounts

• Information about your business, if you own one

• Funeral, burial, or other personal wishes

• Instructions about pets, valuables, or other important personal matters

You do not need to give everyone access to everything today.

The goal is simply to make sure the right people would know where to look, who to contact, and what you want them to know if the time ever came.

Who Would Make Decisions for You?

If there came a time when you could not make decisions for yourself, who would you want stepping in?

For most people, there are two important areas to think about:

Financial Decisions
Who would you trust to handle bills, banking, property, insurance, and other financial matters if you were unable to do so?

Health Care Decisions
Who would you trust to speak with doctors and make medical decisions if you could not communicate your wishes yourself?

Choosing the right person is about more than simply naming someone.

It helps to choose someone who understands your wishes, is willing to take on the responsibility, and can make decisions when the situation may be difficult.

It is also important that the people you choose know they have been chosen.

A document can name the decision-maker.

A conversation can help that person understand what matters to you.

Have Your Wishes Changed?

Life rarely stays exactly the same.

Families grow. Relationships change. People move. Assets change. New accounts are opened. Properties are bought or sold. The people you once chose to help may no longer be the people you would choose today.

That is why it is worth reviewing your plan from time to time.

Ask yourself:

• Are the people I named still the people I trust?

• Are my beneficiary designations still current?

• Have I bought or sold property since my plan was created?

• Have I opened new financial accounts?

• Has there been a marriage, divorce, birth, death, or other major family change?

• Have my health care wishes changed?

• If I have a trust, are newer assets properly coordinated with it?

Your estate plan should reflect your life as it is now, not only the way things looked when the documents were first signed.

Sometimes getting your affairs in order does not mean starting over.

It simply means making sure what you already have still fits.

Three Types of People

When we talk with families about estate planning, we usually find they fall into one of three groups.

There is no “right” answer you are supposed to give.

The purpose of looking at this is simply to understand where you are today.

Once you know that, it becomes much easier to see what, if anything, needs your attention next.

So, Where Do You Stand Today?

By this point, you may already have a pretty good sense of what you have handled and what may still need attention.

You may have all of your documents in place.

You may have some of them.

You may have a trust but are not completely sure whether everything is connected to it.

Or you may simply be thinking, “I know I need to get this organized.”

That is exactly why we created the Family Legacy Review™.

The Family Legacy Review™ helps you look at the important parts of your estate plan, your family, your property, and your wishes so you can see what is already in place and what may deserve a closer look.

You can complete it on your own, at your own pace, or go through it with a Legacy Specialist during a complimentary 60-minute conversation.

No pressure. No obligation.

Just a clear way to understand where you stand and what, if anything, you may want to do next.

Which Next Step Fits You Best?

One Step at a Time

Getting your affairs in order does not mean you have to solve everything today.

It simply means taking the next step that makes sense for you and your family.

Common Questions About Getting Your Affairs in Order

What does “getting your affairs in order” actually mean?
It means making sure the important parts of your life are organized so the people you trust would know what to do if you became seriously ill, unable to make decisions, or died unexpectedly. That can include your estate planning documents, accounts, property, beneficiaries, health care wishes, and important information your family may need. Getting Your Affairs in Order _…

Do I need a will or a trust?
That depends on your family, your property, your goals, and the laws where you live. A will and a trust do different jobs. The important thing is understanding what each does and whether what you have fits what you want to happen.

Does having a will keep my family out of probate?
Not necessarily. A will explains certain wishes and can name people to carry them out, but having a will does not automatically keep an estate out of probate. Getting Your Affairs in Order _…

If I already have a trust, am I finished?
Creating the trust is an important step, but the assets that are supposed to work with it also need to be properly coordinated. That is why account ownership, beneficiary designations, property titling, and newer assets deserve attention too. Getting Your Affairs in Order _…

How do I know if my estate plan still fits my life?
Think about what has changed since your documents were created. Marriage, divorce, births, deaths, new property, new accounts, changes in relationships, or different health care wishes can all be reasons to take another look. Getting Your Affairs in Order _…

What is the Family Legacy Review™?
It is a way to look at the important parts of your estate plan, your family, your property, and your wishes so you can see what is already in place and what may deserve a closer look. You can complete it yourself or go through it with a Legacy Specialist. Getting Your Affairs in Order _…

What if I already have a trust but I am not sure it is properly funded?
That is exactly what the Trust Funding Review™ is designed to help you examine. It gives you a place to look more closely at whether your trust and your assets are working together the way you intended.

Still Not Sure Where to Begin?

You do not have to know exactly what you need.

Start by understanding where you stand.

Getting Your Affairs in Order Starts With One Step

You do not have to have every answer today.

You do not have to know whether you need a will, a trust, or something else before you begin.

You simply need a clear picture of what you already have, what may be missing, and what you want to happen for the people you care about.

That is what the Family Legacy Review™ was created to help you do.

Take a little time. Go through it at your own pace. Think about the questions. Talk with the people who matter to you.

And when you are ready, we are here to help you understand your options and decide what makes sense for you and your family.

Understand It. Get It Done. Make It Work.