Make-a-will month & 5-minute money must-dos before the end of summer. If not now, when?
How’s your summer going? It’s been a busy few months for me and September is coming quick. What do you say we get a few more ‘what-if’ tasks done before Labor Day weekend? You’ll feel better and have one less thing to worry about this fall.
August highlights and your to-dos:
- Fall’s 4-week classes and weekend workshop are open for registration and will fill up soon, so save your spot!
- August is make-a-will why not make a goal to that document done – see how below
- 5-minute money ‘microtasks’ will help you take care of business when you don’t have much time – more below
- New articles and resources to help explain what’s up with home insurance policies being cancelled lately?
Fall Events & Classes
Being prepared for the unexpected is powerful. Learn how to get organized and get your essential end-of-life planning done.
Fall’s 4-Week class with Chanel Reynolds
Sign up for a small-group class and get step-by-step instructions, a custom workbook and tools, live sessions + Q&As and ongoing support.
- 4-Week Class: weekly sessions start on October 4th and 5th. Morning and evening sessions available
Live Weekend Workshop with Chanel Reynolds
Sign up for this half-day workshop and get step-by-step instructions, a custom workbook and tools, live lessons with Q&As, workshop documents and post-workshop support.
- Half-day workshop: Saturday, October 14th at 10:00 a.m. pacific time
August is Make-a-Will Month
Essential Legal Documents: How to Get and Keep Your Shit Together
However, basic estate plans are easier than ever and the risk of *not* doing it far outweighs the few hours it takes to get it done.
WHY? You can save HUNDREDS of HOURS and THOUSANDS of DOLLARS by getting some basic documents done.
WHO: Everyone 18+ should have a few basic documents completed. And remember – women have less saved for retirement and live longer, reports, research and studies show, than men. So please make sure your estate and end-of-life plans are created or updated realistically and equitably to protect that far, far-off future for everyone.
HOW: Many uncomplicated households and simple estates are looking for basic documents, whether you hire an attorney. or choose an online template – you’ve got options!
Online Estate Planning Templates: There are quite a few online templates and software options that could help depending on your needs, finances, situation and the state you live in. Here are just a few GYST friends and family have used and liked:
- Cake: Offers an online will template for around $100 and many additional end-of-life planning resources. Take advantage of their 25% off deal through September 8th by using the code MAKEAWILL at checkout.
- Quicken WillMaker Pro: Top-rated for many years and affordable software template option to complete basic, uncomplicated estate plans.
- FreeWill offers a very simple (and free) online will template that can also be helpful to draft a will and learn which basic decisions and designations your will should include.
- Trust & Will offers a few documents, from a will template (from $150) to an online Trust package (starting at $600)
Hiring an Estate Planning Attorney: As an attorney-friend of mine reminded me, “You don’t know what you don’t know.” And when it comes to legal documents and estate planning, why would you? So, hiring a professional is often a very good idea, especially if you have ANY questions or concerns in ANY way about your situation and future goals. If you don’t have an estate planning attorney already (look for one with solid experience in your state) here are a few options:
- Does your company (or spouse’s?) offer any legal services as part of your HR benefits? Many do. You should ask.
- Referrals from friends, colleagues, neighbors, book-clubs or your local (G)SBA can offer referrals. I suggest you call and ask two or three for an initial (free) consultation to chat for 15 minutes make sure they’re right for you. Ask what and how they charge for their services and if they can provide client references.
- An online directory can help you find reviews and search for specialized expertise (international, special needs, blended families, etc) in your area. Avvo or national association like the NAEPC or AAEPA are a place you could start.
Read the full GYST Guide to estate planning basics
NEW: August MicroTasks
How to prepare for life’s ‘what-ifs’ five minutes at a time
For those who prefer to begin a thousand-mile journey by putting on pants and making coffee – here’s your mini, bite-size list to better prepare for life’s ‘what-ifs’.
This month’s 3 things – read the full article here
- Free Money? Find out who might be holding onto your $$ with a quick online search for ‘missing money’, aka unclaimed property.
- Emergency Funds PLEASE make more more faster with the recent, way higher interest rates for savings accounts (hint: fund your emergency fund even faster with a HYSA).
- Getting dumped by your insurance company can be a very bad breakup for your finances and future plans. As in: protecting your biggest assets, your home being one of them, when climate change has caused some insurance carriers to cancel current policies and deny coverage. WTF is up and what do we do? Check out the articles below.
Articles & Resources
New Research Challenges the Psychiatrization of Mourning: “Highlighting the dissonance between clinical diagnosis and the human experience of grief, new research sheds light on the controversial inclusion of Prolonged Grief Disorder in DSM-5-TR… Read: Is Grief a Disorder?
Insurance policies are being cancelled or denied. Why and what can you do?: How do we protect one of the biggest assets we own to pass to the next generation when climate change has insurance companies on the run?
- ‘How climate change could cause a home insurance meltdown‘ from NPR
- ‘Who will buy my house if they can’t get insurance‘ from BBC
Final Nudge: Last Month’s To-dos
Designating a legacy contact is a secure way to give a family member or trusted friend access to your critical digital accounts. Most of us have hundreds of online accounts that are hard to keep track of on a good day. If someone needed to find something to help you – could they?
1. Google Inactive Account Manager: Easy way to share your account data if you go ‘dark’
2. Facebook: A legacy contact can make decisions about your profile
3. Apple: A legacy contact to can access the data in your Apple account after you die.
Task: Add a Legacy Contact
Time: 5 minutes each