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www.SouthwestOrlandoBulletin.com x December 21, 2017 - January 3, 2018 x 7<br />
You Can’t Take It With You<br />
by: Kristen M. Jackson<br />
Often the poorest people leave their<br />
children the richest inheritance. Regardless of<br />
how much or how little, throughout one’s lifetime<br />
most people acquire some measure of prosperity.<br />
Whether it is simply family photos, an old car and<br />
a small bank account or an abundance of wealth<br />
including real estate, savings, insurance policies,<br />
and investment accounts, most everyone today dies<br />
having acquired something to leave behind to their<br />
loved ones. If you have made no plans to pass your<br />
prosperity on to your loved ones, you may burden<br />
them with needless family feuds and substantial<br />
legal and court costs to settle your estate. Realize<br />
“You Can’t Take It With You.”<br />
Although the holidays are supposed to be<br />
a time for family and celebration, for many it is<br />
a time for unexpected sadness. According to a<br />
study published in the journal of Social Science &<br />
Medicine, it found that more people are likely to<br />
die on Christmas Day and New Year’s Day than<br />
any other day of the year. Also reported by the<br />
National Center for Health Statistics, as many as<br />
18% more people die during the holiday season,<br />
Thanksgiving, Christmas and New Years, than any<br />
other time of the year.<br />
In the Charles Dickens’s classic, The<br />
Christmas Carol, the Ghost of Christmas Present<br />
told Ebenezer Scrooge that “There is never<br />
enough time to do or say all the things that we<br />
would wish. The thing is to try to do as much as<br />
you can in the time that you have. Remember<br />
Scrooge, time is short, and suddenly, you’re not<br />
here anymore.”<br />
Realizing that one, or both, of your parents<br />
is getting older and possibly needing assistance is<br />
difficult to process. Often parents are unwilling<br />
to discuss their health with you because of their<br />
embarrassment, shame, denial or even pride.<br />
There is no better time than the Holidays to open<br />
the dialogue with your parents about their health,<br />
welfare and happiness.<br />
Why are the Holidays an opportune time<br />
for discussions about family health issues and<br />
asset protection? Most people are less pressured<br />
by daily work routines, family members are able<br />
to come together, and most importantly, you, your<br />
spouse and your siblings can comfortably open a<br />
discussion over a glass of eggnog and a turkey leg<br />
or while opening gifts. Rarely, if ever, is there a<br />
first-hand opportunity throughout the year to<br />
have such discussions with your parents.<br />
So how do we make our parents feel<br />
comfortable talking about their health and asset<br />
protection? Remember, the discussion is about is<br />
your parents’ estate planning which includes their<br />
health, assets, family, loved ones, not-so-loved ones,<br />
gifts, feuds, drama and more. It is about their dayto-day<br />
living and their legacy and not simply about<br />
their demise. So start the discussion anywhere.<br />
One way to begin is to discuss those<br />
documents everyone should have during life<br />
such as a health care surrogate or a durable power<br />
of attorney. If your mother enters the hospital<br />
while unconscious, your father or another family<br />
member cannot make a medical decision for her<br />
without her having granted written authorization<br />
them to do so. If your mother is your only<br />
surviving parent, who will pay her bills while she<br />
lay unconscious? This too, requires a durable<br />
power of attorney signed by her.<br />
The Holidays are meant to be a joyous<br />
time for family and friends to share intimate and<br />
loving concerns for one another and to celebrate<br />
the coming New Year. And once you have shared<br />
eggnog, turkey, gifts, champagne and fireworks<br />
with family and friends, think about beginning<br />
the New Year by setting up a consultation with<br />
an estate planning attorney to discuss how to help<br />
safeguard your parents’ future. Remember, mom<br />
and dad, “time is short, and suddenly, you’re not<br />
here anymore and you can’t take it with you.”<br />
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