While You Still Can
I've always enjoyed a wide variety of music. Between school, community, and church choirs over the years, I've come to appreciate everything from anthems and Broadway to gospel, holiday music, and pop from just about every decade. And being a child of the '80s, there's nothing like some good big-hair rock to get me through a long run.
But I also have more than a few country songs on my running playlist.
During a recent workout, Spotify served up Cody Johnson's "'Til You Can't," a song I hadn't heard in quite a while. The message of the song is simple: don't wait to do the things that matter.
“If you got a chance, take it
Take it while you got a chance
If you got a dream chase it
'Cause a dream won't chase you back
If you're gonna love somebody
Hold 'em as long and as strong and as close as you can
'Til you can't”
As I listened, I found myself thinking less about the song and more about the work I do every day. End-of-life planning is, in many ways, built around the same idea. We often assume we'll always have more time. More time to get organized. More time to have important conversations. More time to finally create the documents we've been putting off.
But eventually, there comes a point when we no longer have that opportunity.
You can qualify for life insurance at a favorable rate...’til you can't.
You can create a will or a trust...’til you can't.
You can have meaningful conversations with your parents about their wishes...’til you can't.
You can teach your partner how to manage the household finances in case something happens to you...’til you can't.
I was getting my haircut last week at a new salon when the stylist asked what I did for a living. As often happens when I tell people about Prepare Your Affairs, she immediately commented on how important the work is. Then she shared a story about a relative who had passed away without making any plans, and how difficult it has been for the family ever since.
As she was telling me the story, a thought occurred to me.
There is no "right time" to get your end-of-life affairs in order. You're either planning ahead, or it's too late.
If you've had that feeling in your bones that it's time to create a plan or update the one you already have, I encourage you to act on it. You don't have to do everything at once. The goal isn't to finish your entire estate plan this weekend. The goal is simply to take the next step while you're still able to choose it.
Here are three simple things you can do today that will move you closer to the peace of mind that comes from being prepared.
1. Review your life insurance needs.
If you don't currently have life insurance, or aren't sure whether you have enough, take a few minutes to get an online quote. A lot of websites will give you premium estimates without committing to buy, including this one: https://www.lifeinsure.com/anonymous-life-insurance-quotes/
Even if you decide not to purchase a policy today, you'll have a better understanding of your options.
2. Start an inventory of your important assets.
You don't need to list every fork or hairbrush. Simply begin identifying the things someone else would need to know about if you weren't here: bank accounts, investments, real estate, vehicles, retirement accounts, family heirlooms, or other valuable possessions.
3. Download your state's advance directive form.
Nearly every state provides one online, and your doctor's office or hospital can usually provide one as well. Even if you don't complete it today, you'll know what's involved and be one step closer.
Already have a plan? Here's one more thing to do.
4. Find your important documents and make sure someone you trust knows where they are. That includes your life insurance policies, will, trust, powers of attorney, advance directive, and any other documents your loved ones would need in an emergency.
None of us knows when our opportunity to plan will end. That's exactly why planning matters.
If there's something you've been meaning to do, whether it's updating your will, organizing your paperwork, having an important conversation, or simply getting started, don't wait for the perfect time.
Take the next step...while you still can.
Best regards,
Corey
