The Unexpected Loss of My Father

About six years ago, my father unexpectedly passed away.

He was 76 years old, had a stroke, and unfortunately never woke up. Quite often, we are not prepared for this to happen to our loved ones.

Fortunately, given the line of work I’m in, my family and I were ready. Because of what we went through, I urge everyone to take care of these four key areas:

Make sure everyone in the family knows where to locate the legal documents.

Not only should your spouse know where the legal documents are, but your Power of Attorney, Healthcare surrogate, children, etc., should as well. Review your legal documents, ensuring they are up-to-date and provide copies to those who need them.

Get a financial analysis done by your advisor to see where you stand.

Now is the time to prepare and guarantee the finances are in order in the event of you or your loved one’s passing.

Make sure your beneficiary designations are all up-to-date.

A designated beneficiary inherits an asset, such as a life insurance payout or the balance of an individual retirement account. Often people set designations and forget after 20 years. Review who your beneficiaries are, and update as needed.

Lastly, make sure your final wishes are known, and in writing.

Whether you want to be buried or cremated, have money donated to a specific charity or cause, leave the guessing game out of this process for your family.

I hope that this saves a lot of heartaches, as being prepared did for my family and me. While we all wish we’ll have plenty of time to discuss the details in the future with our loved ones, life throws us curveballs. Because our family prepared, we were able to be there for my mother.

The Unexpected Loss of My Father – Learn how Crescent Wealth Partners can help

Our team’s focus is to help you with a customized plan fit for you and your family’s needs. Now is the right time to plan for your legacy. Call us at (941) 923-3663 or schedule an appointment. We look forward to connecting with you.

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