Welcome to Straight Talk. We at Legacy Legal and Family Legacy Trainings appreciate your enjoyment of our weekly insights on the relationship between estate planning, tax law, financial matters and human dynamics.
Death. The final frontier. No one wants to face the final conclusion so we do everything we can to avoid it. Plastic Surgery, vitamin supplements, live for today and worry about what happens later. In estate planning, failing to plan is a plan that fails. Family Anger In Lawsuits that tears families apart, causes fighting amongst the children and money wasted on frivolous lawsuits.
Fear. Fear has been described as false expectations appearing real. Results that we make up in our minds. What is it that really terrifies us. Is it that we won’t be remembered. Is it that there is more for us to accomplish before we are ready. Is it that we just won’t get to enjoy all the benefits that life has to offer. So how can we combat our fear of death. The short answer is to face it.
There are a wealth of self help positive thinking and positive talk books, articles and seminars that tell us to continuously think of positive affirmations and positive self talk to move us toward the goal we want. Some research has shown that all of this positivity can actually result in greater disappointment. Maybe when expectations don’t come true it is harder for us to deal with. Whatever the reason, however, there is a school of thought that considers that focusing on the worst things that can happen and possibly even living them out might do more to alleviate fear.
For example, let’s say you are afraid of losing your money. To face this fear you might spend one day where you intentionally don’t have money. See what happens and how you face the day. I will suggest the result won’t be as bad as you think and all of a sudden the fear may dissipate.
So when it comes to death, you might consider writing down all the things that you think would happen if you were not here on the planet or even talk to loved ones about what this would mean. Facing the fear might then help alleviate the concerns. More importantly, facing the fear hopefully will motivate you to take action and create a P.L.A.N. Preserve Legacy Act Nurturing. Create a plan that you can communicate to your family and take the opportunity to make sure the plan will work while you are here.
For example. Many people put in their estate plans that they want their child to receive some wealth at age 25. When I question them further pointing out that might mean giving $500,000 to their 25 year old they tend to get really big eyes and say they wouldn’t want to do that. So if you wouldn’t give $500,000 to your 25 year old today why would you do so when you are gone. This leads to a much better conversation about what needs to happen, what plans, conversations, learning and skills need to be acquired so that you know that your 25 year old will be ready for good financial decisions while you are still here.
Planning, Planning and Planning is how our company is uniquely positioned to guide you and help you relax through these turbulent times. We offer a team of very experienced professionals to put you at ease and give you peace of mind that your plans will work.
Thank you for being a part of our Straight Talk community. We educate, transform and inspire business owners and families in changing the way they think and talk about wealth in money, values, beliefs and traditions. Unite, align and nurture so you can preserve and protect wealth and leave each generation achieving collaboration year round. Legacy. What is your Legacy?
We welcome you to share your ideas and thoughts.
