In “The Intangibles of Estate Planning for Working Mothers,” Working Mother outlines just why estate planning is so important for working mothers, as well as other adults. We all know that money is important but when we put off financial planning tasks, we forget that money matters because it represents security. And we all want to feel financially secure.
As the article points out:
“…it’s impossible to see the future, and you never know what circumstances might bring. Preparing early is the one way you can ensure that your children are properly taken care of, both monetarily and in terms of guardianship, should something happen to you. And, if nothing else, it gets it out of the way for down the road.”
Taking Stock: If budgeting and financial planning are not regular practices for you, then estate planning will give you a look at your financial health. This may be one of the reasons people avoid estate planning—we don’t want to face the uncertain future and we really might not like to see that our finances are not in great shape. However, they only want to know is to take a look. As you try to ensure your family’’s future financial stability, you may find that you have some work to do in the present. Some of us already know that our finances aren’t in great shape but meeting with a Fee-Only financial planner for estate planning might be the wake up call we need.
Having “The Talk”: Just as we avoid talking to our children about how life begins, we often also avoid talking about what happens as our lives wind down. Working Mother points out that framing it as part of a talk about estate planning is one way to approach a conversation about aging and death. Even if you and your children feel uneasy, you can discuss how you are preparing so they are not left scrambling.
And you too may feel more at ease knowing that you done what you needed to do to look out for your family.