Elvis Presley famously said, “The truth is like the sun. You can shut it out for a time but it ain’t going away.” When it comes to thinking about your future and what you need to do to protect yourself and your loved ones, nothing could be closer to the truth. This week, as we think about The King and the legacy he left to us during Celebrate Elvis Week, we also need to consider what his words mean when applied to our future.
The truth is that each of us need a comprehensive estate plan to protect ourselves and our family. None of us will physically last forever. Our legacy, however, just like that of the immortal Elvis Presley can. We need to ensure, just like he did, that our legacy will live on and that our family will be provided for well into the future.
We do not want any of you to be in a position where you have not developed an estate plan that addresses both your incapacity and your death. Our goal is to provide you with tips on how to create a legacy that will both provide for your and your family. Let us share three tips with you this Celebrate Elvis Week.
1. Plan for the Unexpected. Life is not certain for any of us. None of us know how much time we will be given or when an unexpected crisis could occur. We encourage you to work with your estate planning attorney to think about not only planning for the legacy you will leave through your last will and testament or trust agreement, but to also create lifetime documents such as health-care documents or a durable power of attorney that can ensure you will be taken care of in the event you can no longer make decisions for yourself.
2. Choose the Right Decision Maker for You. You need to choose the right decision maker for you. This is a person who, in a time of crisis, can make decisions as you instruct or would yourself, if you had the capacity to do so. You do not have to choose the same decision maker for your financial or healthcare decisions. Instead, think about who in your family or among your friends can make the right decision for you. Discuss this with your estate planning attorney so together you can create the documents that will give this person the legal authority to act in a crisis.
3. Determine the Legacy You Want to Leave. Your legacy is important. Think about what you want for yourself, your children, your grandchildren, your business, and the causes you care about. You can share this with your estate planning attorney and work together to create the legal documents that will create the legacy you want for the future.
These are just a few tips we want you to consider as we take part in Celebrate Elvis week as a community. Remember, where would we be without the legacy left by Elvis Presley? What will you accomplish for yourself and your loved ones? Do not wait to contact our office with your questions and schedule your meeting with attorney Anthony Bradley.