2008 To Do List

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As the new year begins, I think of all the things that need to be done.

No, not all the little things, but the bigger things for security and peace of mind in our lives.

If I should die before I wake.....
Texas law mandates that should you die without a properly executed will, the state could direct whatever you have to whomever or wherever the state decides, including the state's own coffer.

Hearsay advice leads you to believe that you can leave behind a handwritten will or that everything will automatically go to your
spouse. Nay, nay, good friend, not quite as easy as that.

The over-the-counter and internet forms may not be recognized by Texas law either.

Your bank will have to lock all your business with them, including bank accounts, upon your death. It may not matter who else is on the account or authorized to use it. Certain provisions must be established before you die. As a quickie test, call your bank. Ask them what happens with your business if you are to die. Then make arrangements to fix any problems.

Your house may not be able to change hands at any point without proper paperwork in place. A certified death certificate or record is just a part of the tangle.

There are other important documents to consider.

Do you want to be placed on life support when nothing of you is working or alive as you know anymore and there is no logical chance that you will again be the 'you' that you are? There are directives that you can sign now that tell your care givers, including doctor and hospital, whatever you wish to happen either yeah or nay.

Other simple directives say who would make decisions for you and any business you have to take care of in the event you cannot make those decisions for yourself. Say you were in the hospital in surgery; your minor child has been injured across town or country. Permission is necessary for something. Who will make that decision if the second legal parent is not able or available?

Consider all the names that you have placed as beneficiaries on various accounts. They may be on things other than life insurance plans. These funds will not be part of any will you leave because you have dedicated those funds to a particular person or group. You can change that by arranging with the account group itself and your properly executed will.

Companies tend to make changes to insurance plans and such at the first of the year. You may have been asked to consider changes and have made your choice already this early in the new year. Maybe you were not completely certain that the changes you decided on were exactly what you needed. These changes may affect how you pick your doctor, your insurance plan, your 401k investment opinions.

You are in the majority if you do these by the seat of your pants. Personally, I feel that the company biggies have already made their
choice with their best interest at heart and are only giving you a token vote, knowing that you cannot make a most informed choice in two weeks notice. Therefore, they will usually recommend a path of action.

Maybe you cannot do anything this year, but vow to begin research on these types of decisions for the next 'vote'.

Will you ever be able to retire and live at least as comfortable as you do now? Will you still have insurance or will each prescription cost
all your grocery money? Will you have enough to put gas in your vehicle? Can you now?

Do research. Pick and start a plan if only a small one. Don't just worry about it. I don't care what you hear or read - again, you are in
the majority. I can truthfully say that I am not ready at all. I have either struggled to be middle class comfortable or have happily spent the extra on things that made me happy rather than save or invest.

Speaking of investing.... I know nothing of it other than I am totally confused when I try to read the options.

I cannot put my life on hold to take care of all this. Or dare I not? I promise myself to research more diligently on all these subjects and
right all my interests.

In addition, I will put much time into discovery of facts and rates of IRA plans, elder insurance plans and streamlining existing plans of all
kinds that I currently hold. It may take the greater part of 2008 to complete.

Don't base your life and death on beauty / barber shop advice. Don't believe everything you read. Check credentials. Double check stated 'facts'. Websites don't make it necessarily so. You can have a website and claim just about anything too. That doesn't make it true or legal.

This is a daunting task, but you'll feel better afterwards and will only need to refresh your memory or update information thereafter.

Have a wonderful, healthy 2008. Ease your mind and the path for those that will be left behind when you pass one of these years by making informed decisions on all your personal business.

Now, I need to make a plan for spring cleaning.

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