96 - Prepare your will

Reason for this Goal for will preparation:   Having a will communicates and documents your intentions on what will happen to your estate when you die.  Without a will, it is left up to the government and others as to what will happen.  It may not be what you would have wanted to happen.  Having a well written will ensures that your estate (your assets) you have worked so hard to achieve will be dispersed in the manner you desire, and that your health care directives are carried out.   It will give you peace of mind knowing that your family knows you thought of them and planned for their future.  The following are some things that need to be considered with will preparation:

  •  Your will needs an executor: someone accountable to ensure that the will is executed according to your plan.
  • Your will needs two powers of attorney: one to deal with your finances and one to look after your health care needs.  These two people act on your behalf if you are still alive but incapable of making your own decisions, due to serious health issues.
  • Your will needs a guardian appointed if you have children under the age of 18, so that someone you trust makes the important decisions instead of someone appointed by the courts.
  • You should consider writing a memorandum and/or a letter of wishes to document things of sentimental value to be passed down, which could change over time, so it can be more easily updated (i.e. special jewelry, artwork, furniture, or musical instruments).

Your will needs to be updated as you age and your family situation changes, especially after major life changes such as the birth of a child or a divorce, or significant change or additions to your assets.   

Suggested Goal(s):     Have a will prepared, and keep the original in a safe.
Your Outrageous Goal:   Update your will every 3 years.  

 

Return to giving back/legacy goals.


You might like these

  • Proven ways to make a difference with your life!

    One of the greatest philosophies is to “leave the world a better place than when you arrived.” During your epitaph, wouldn’t it be amazing if people could speak of the ways to make a difference and that you did something good to make a difference in this world.

  • 7 top benefits of writing a book before you die!

    If you've ever wondered what are the benefits of writing a book and asked yourself should I write a book, read this. I believe everyone has at least one book in them. Why not write a book that will form a part of your legacy, to be passed down to future generations.

  • Reasons to journal daily!

    Understanding reasons to journal and keeping a daily journal is one of the best things you can do to record, in written word, things in your life that you’ve done, and things that you’ve experienced and thought throughout your life.


Last updated: December 29, 2019