What If...?
What if you had a heart attack? What if you had a stroke? What if you were involved in a fatal car crash? What if you had a serious cycling accident? What if you were suddenly incapacitated?
These “what if” questions are questions no one wants to ask or think about. These “what if” questions are questions that should naturally lead to a number of other important questions.
Would your family be prepared? Would your business be prepared?
Do you have a Living Will? Do you have a Medical Power of Attorney? Who is your Patient Advocate? Do you have Durable Power of Attorney? How long ago were these documents drafted? Have they been appropriately executed? Who knows where these documents are stored? Who has access to them? Are the individuals referenced in the documents aware of their intended role and responsibilities? Are they willing to fulfill their roles? Are they prepared to fulfill their roles? Have you made them aware of any specific wishes that you have? Who can help them in their time of need and transition?
What other financial, legal and operational arrangements have been made? Are your assets appropriately titled? Have your trusts been appropriately funded? Have your legal documents been appropriately executed? Do you have life insurance? How much? Do you have disability insurance? How much? Is it enough? Are your family members aware of these arrangements? If not, who will tell them? How will they react when they find out?
Does your family have a listing of your electronic accounts and respective passwords to gain access to your contacts, your email, your electronic financial records and other important electronic sites and applications?
Who do you consider to be your trusted advisor(s)? Your wealth advisor? Your estate attorney? Your life insurance consultant? Your trustee? Someone else? Does your family know them? Does your family trust them?
Do you have a succession plan for your business? Do you have a buy-sell agreement? Is it supported with a life insurance policy? Remember succession is not just about ownership. Who is going to run the business? Do they know of the plan? Do they want to be a part of the plan? Are they prepared to step in suddenly? Do they know your customers, suppliers, banker and key employees? Do your customers, suppliers, bankers and key employees know them? Who is available to help them?
Lastly, do you have an estate tax issue? If so, do you have a plan to fund any required payments?
These are all questions that are never comfortable to consider. However, there is always greater pain and stress if they are not addressed. Financial stress. Medical stress. Legal stress. Family stress. Business stress. Too often the answer to these questions is “I don’t know”. Do you know?
At Telemus, the foundation of our organization is based on a holistic approach to financial life management. We have the experience and resources to assist you in reviewing your plans and developing, implementing and supporting appropriate ongoing strategies to prepare you and your family for both anticipated AND unanticipated “What If” events .
Let us help you answer these important questions. Let’s start the discussion !
Telemus is a place where financial security is just the starting point. A place where you can identify and realize a more profound, more aspirational mission – to leverage your wealth to help you achieve your envisioned future. Through a deep and thoughtful exploration process with a unique team of experts, we help you define what financial and personal achievement means. By igniting a partnership with Telemus, we will help you attain personal life enrichment, your grandest visions, and your life’s most important goals. At Telemus, we have a different perspective on your financial life. When you take a seat at the Telemus Roundtable, you gain access to the most compelling conversations and inspired solutions for your financial future. We offer you a brand new, more holistic outlook far beyond just investment management which we know will serve as the inspiration for a more enriched life.
