Valentine’s Day seems an ideal time to celebrate your spouse!
Let’s face it, it’s a miracle some of us find a soul mate, a best friend, a partner in crime…whatever you call them. Someone that not only tolerates all your quirks on the daily, but still loves you “for richer or poorer” and “through sickness and in health.”
I can think of no greater way to celebrate this type of long-term devotion than to take the appropriate estate planning measures with your sweetheart in mind. Like your love, an estate plan is never-ending. It has no expiration date!
For richer or poorer makes a great deal of sense when placed in the context that you are going to pass away, and you will most likely want to pass your assets to your partner while also reducing their stress. If you die without a will, it will cost your spouse a good deal of time and money, on top of anxiety and even heartache.
In sickness and health also directly relates to one of the chief estate planning documents. Say you were in an accident and were seriously incapacitated; you’d want to have a health care power of attorney established. This allows important medical decisions to be made by someone you trust to do what’s in your best interest. Most spouses select one another as the designated agent.
The same goes for a financial power of attorney. There are many facets of your finances you may want to designate to your spouse. A financial power of attorney would allow them to settle or manage certain resources in the event that something has happened to you.
People can say “I love you” in many different words and through many different actions. This Valentine’s Day I want you to consider giving an out of the ordinary gift…an estate plan!
An estate plan is not just an important legal document that saves your family time, money, and potential heartbreak. A quality plan is also a way of expressing care, commitment, and, yes, even love…be it adoration for your significant other, for your family, or even just out of respect for your life and legacy.
Happy Valentine’s Day, Louisiana! Tis’ the seasoning!
- The Basics: Financial Power of Attorney - June 23, 2020
- Facing Reality: The Essence of Family Business Succession Planning - June 16, 2020
- Who can contest a will? - June 8, 2020
