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Editor-In-Chief, Michael Tetreault

By Michael Tetreault, Editor-in-Chief

May 2017 – As a physician, it is expected that you look out for the health and well-being of others. You do that very well. However, when was the last time you updated your Will? Have you changed the document(s) to reflect an Executor who may or may not be in your life anymore (e.g. in friendship? or alive?). Maybe you’ve had a divorce. Have you executed a Power of Attorney? Who is on it? When was it? More importantly, where is it? Do you have a Legacy Drawer AND have you let the most important people in your life know where it is? Have you sat down with your family or close friends and explained to them why you are setting things up in this way? Maybe you need to explain to loved ones why you are leaving an asset or distribution to them and not over here … fielding questions while it is still fresh in your mind.

Estate Planning Tips for Physicians: Wills vs. Trusts ~Physicians Practice

Every household needs a Legacy Drawer. It doesn’t matter if you’re single with no kids or 76 and have 12 grandkids—you need a Legacy Drawer. It’s the last gift you will give your family, so make it a good one. If you truly care about your loved ones, you will take the time to create a Legacy Drawer. ~Dave Ramsey, Ramsey Solutions

The last thing you want as a physician is to be caught unaware or off guard. After all, isn’t it your job to be prepared? It is not uncommon to feel behind or even outmoded or outdated in this area of your life.

Let this be your Clarion Call to get this done!

A financial planning magazine recently said that 70% of living trusts never have the assets transferred into them.



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