Memories and Dreams: Find the Motivation to Plan your Estate

24 Aug Memories and Dreams: Find the Motivation to Plan your Estate

What have you always wanted to do? Some people have a lifelong dream to visit a faraway place, such as New Zealand, Ireland or even Whitehorse. Others dream of owning a cottage in a rural area. For others, starting a new business is their main goal.

But big dreams like these don’t just happen spontaneously. They require planning – and funding. In order to make a big dream happen, it’s critical to consider your priorities, your values and your goals. One way to achieve those dreams is to create an estate plan.

Changing Your Perspective

As the old adage says, when you don’t know where you’re going, any road will get you there.

Many people think they don’t need an estate plan. It’s just for wealthy people, they say, or people with big families. But creating an estate plan is really just a way to prepare for the future.

You probably have more plans for the future than you realize. Maybe it’s just a childhood assumption that you’ll get married, buy a house and have a family. Maybe you love to hike and explore national parks, and you dream of building a business taking others on adventure trips.

No two estate plans are the same. An estate plan is designed with you and your specific goals in mind – and working with the right planner can encourage you to think of issues you haven’t yet considered.

Identifying Your Goals

Before creating an estate plan, it’s best if you have some specific goals to work toward and an understanding of your values. Consider these questions:

• What word best describes your family? Share a family story that helps to explain that choice.
• How did your parents acquire their wealth? Share a memory about something they did to provide for you that left a lasting impression.
• How would an inheritance advance your dreams for yourself, your family and your community?
• What is the difference between fair and equal? To whom are you planning to leave your wealth?
• How did your parents divide their assets and when did you first learn of the will’s contents? What would you do the same and differently?
• What role did you play in caring for your parents? Name one thing that was done well and one thing you might do differently.
• What are your last wishes?

Now you’re ready to take the first step. To learn more about preparing your estate, contact us.

Joel Rose

With over 35 years of experience, Joel Rose helps families – and their businesses – to prepare for the future. He offers guidance and support to help his clients create estate plans and succession plans that meet the needs of the whole family. Through his extensive professional and personal experience, Joel is known for his compassion and his ability to find a creative solution to meet each family’s needs.