10 Times when you should consider planning your legacy – Part 2
You discover a complicated health condition: unfortunately, we can all discover at any point in time a health com. As much as it is important to deal with the health condition at hand, it is an appropriate moment to make sure you have made all necessary provisions in case. And if nothing happens, you can keep your preparations and update them when the next life event comes along.
Your retirement has commenced: retirement is not only a significant live event, but it often also marks the moment when you suddenly have more time on your hand. What better use of this time, than to start ensuring all your affairs are in order. You can make it a progressive manner, starting with a will, then looking at gifts, working your way to the power of attorneys and funeral wishes.
You have specific funeral wishes: whether this be a religious funeral or a non-religious one, whether it is the choice of music to be played or a special theme, whether it be about being interred or cremated, you may wish to have a say in how you leave this world. Planning helps your executor and loved ones know how to respect your wishes.
Any time your personal circumstances change: life is in constant flux here is non exhaustive list of events that should trigger the desire or need to plan, namely: getting married, having children, buying a house, separation/divorce, death of a loved one, long term illness, retirement, moving, significant change in financial standing, becoming a grandparent.
Your parent(s) ask for your help to make provisions: parents or elderly relatives may have approached you to help them to make provisions or you may have approached them to try to understand their wishes and realise that they have not made any provisions. In either of these cases, it is critical to help them as often they will have reached a stage where doing it themselves is not practical.
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