Be Prepared

We live in an area where the median age is over 60. Ignoring that the media says 60 is the new 50, it should tell you that we are a retirement area. Lots of us are older and as a result we need to prepare ourselves and our assets for some ultimate distribution.
I am not a lawyer, and do not want to try and give legal advice. What I do want to do is give you some common sense suggestions I have learned from my experience with others.

A friend's father had a serious stroke. A stroke is nature's cruel reminder as to who is, really, in- charge. One day this man is living in a beautiful home with membership in the golf club, his favorite cars in the garage, his boat at the marina and his cash nestled safely in his investment portfolio. The next day he is unable to function in any way, nor was he ever able to again. He died shortly thereafter. This is a blog about paradise and how to enjoy it, but part of enjoying is being prepared so you can, without any worries.

There are no guarantees, nor promises about our future. So as the boys scouts say, "be prepared." Prepared to have your business and properties arranged for that time when you may not be around. You need to take some time today and ask yourself, "what do I want to happen after I am gone?"

Take the time to write it all down. Information about the succession of your business, your properties, your family, your employees. If you do not get it on paper, it will not happen as you want it to. Perhaps you have a key employee who has contributed to your success. You want to make sure he continues in that capacity for your family. It will not happen if you do not set it up now. I say write it all down, but only for the purpose of taking it to your lawyer. Write it down so you can get it all laid out, before you let them create a legal document.

Once you have done all you can to cover the possibilities, for that time, when you may not be around, then smile and go play golf, or enjoy your boat with your spouse, children, and grandchildren. You have worked, now do some playing, do some enjoying. There is no need to worry, you are prepared.