What are life events? We know that the birth of a child, or the loss of a spouse are certainly life events, however, under the stress of divorce or buying and selling a home, we forget these too are life events. When something occurs, we must take stock and make sure that our lives and documents are all in order. If you fall ill, have a tragic accident, or die, it is likely too late to make a change. I have, many times, spoken to a federal employee who does not have a WILL or all the essential documents. This can mean life savings going to the estranged spouse, or brother. It means the court will make your final decisions for you and with high, no make that very high cost to your estate. You have worked a lifetime, and unfortunately have a child that has not made wise choices. What would a single lump sum of $300,000.00 do for this child, if drugs or dangerous lifestyle is involved, it could mean death. I have such a case, at this moment. It is messy.
In the event you become ill or an accident, you are in coma, if you do not have a medical directive, you may be that story we hear all too often, on a ventilator for years, living the life as a vegetative patient.
The solution, see your lawyer now, get your essential legal documents made, or update your old ones.
What is a life events:
- Marriage
- Divorce
- Illness/Injury
- Birth / Death or incompetence of a child.
- Incompetence or serious illness of a spouse.
- Your incompetence.
- Moving to a new residence
- ID theft or loss of ID.
- Incarceration
- Retirement
- More…
- Retirement Decisions When and How: How to decide what to decide? Not everyone is the same, and what method one uses to come to a decision are as varied and different as the individual. The problem I see often is the inability to decide, especially, life changing decisions.
I can say information is crucial, and it is, but many of us are not used to deciding and having it affect the remainder of our lives. Sometimes the “Comfort Zone’ decision is not to decide now. Procrastination helps no one, but feels good, until that delay causes a lasting consequence. Case in point, as noted above, the legal essential documents. Nothing positive is accomplished by delay. Changing beneficiary to a new spouse, could mean the former spouse will get the benefit of your FEGLI? Are these circumstances far our; not at all, we see these situations all the time. Information is the key to making the right decision, but emotion or fear can be a mountainous barrier. The comfort of doing the right thing at the right time will bring a feeling of wellbeing far more substantial than the brief relive of a delayed decision.
