FAMILY WEALTH PLANNING
Planning for an Older Parent
Organization: Help your parent get all of their legal, financial and tax information in one place. Recognize that you will be the one dealing with the issues at some point and having them in one location will make this much easier.
Communication: Make sure the parent conveys their wishes before anything happens. You will need to know when they want you to take over if they are hospitalized, put in a nursing home or become incapacitated.
Control: How much control does the parent want you to have? At the very least the parent should have a Health Care Directive and Power of Attorney and any other documents necessary to convey their wishes.
Planning when you are considering Retirement
Ease: Make life as easy for the kids as possible with a comprehensive plan that consolidates and organizes all of your assets. She needs to have a trust to keep her affairs private and minimize court involvement.
Minimize Conflict: Convey to your kids who will be in charge when something happens. Will they make decisions together or will one child be the decision maker. Let them know why you came to the decisions you did.
Develop a Relationship Now: Develop a relationship with a lawyer to make good decisions now and throughout your life and then be there for her kids when something happens to help guide them.
Planning when you have Young Children
Comprehensive Kids Protection Plan: This is a whole plan that does so much more than just naming guardians in a will. This plan will take care of your children not just in the long term but also in the short term.
Passing On More Than Just Money: Have a plan in place that passes on your values and what your wants for your kids.
Develop a Relationship Now: Develop a relationship with a lawyer to ensure that legal documents stay up to date throughout your lifetime as the laws change and your life changes.
ABOUT ALEXIS MARTIN NEELY
Alexis Martin Neely is America's Favorite Lawyer™, an outside the box business and life coach, and the Intrepid Mompreneur. A savvy, forward-thinking business woman, Alexis has built two million dollar businesses, sold one of them and today as the CEO and founder of the Family Wealth Planning Institute, she is revolutionizing the way legal services are provided to families and small business owners.The bestselling author of Wear Clean Underwear! A fast, fun, friendly - and essential - guide to legal planning for busy parents and a regular legal commentator for CNBC, Fox, CNN and BetterTV, you may have also seen Alexis featured on the Today Show, Fox and Friends, O'Reilly Factor, and Oprah & Friends radio.
Website: http://www.alexisneely.com
ABOUT FAMILY WEALTH PLANNING INSTITUTE
Website: http://www.familywealthmatters.com/whatisFWPI.php
ADDITIONAL ONLINE RESOURCES:
>> Kidsprotectionplan.com: Resource where parents can name guardians for free
>> Personalfamilylawyer.com: Resource for those who need a lawyer
>> Rocketlawyer.com: Resource for people who just need documents prepared
