TGIN2020- Can you read it?

December 28, 2020

Legal Matters

Brought to you by: Community Partner Bradford & Holliman

If TGIN2020 were a car tag, you could have fun deciphering it before the traffic light turns green… Thank Goodness It Isn’t 2020! January is always the season for new resolutions and starting afresh with new goals. Due to the pandemic and Alabama’s Safer at Home mandate, you may have already completed some of your usual ideas for starting a new year such as cleaning out closets and learning a new sourdough bread recipe. 2021 can be the time to reduce stress in your life and to build in new stress relievers.

Many people consider estate planning a stressful or depressing topic, but it shouldn’t be. Think of organizing your affairs as a stress reliever because you have planned ahead to make things happen the way you want. Getting your affairs and paperwork in order is an excellent exercise in adulting. If you are a legal adult and have any assets, you should have at least a durable power of attorney, healthcare power of attorney, healthcare directive or living will, and a will in place. These documents can give you and your family a lot of peace of mind.

These documents can also lead into discussing other ‘adulting’ activities such as considering guardians for any minor children, the need for life insurance, the designation of heirs if your parents don’t really need to inherit your assets, specifying bequeaths to your alma maters or favorite charities, and of course, planning for tax returns.

If you are looking for a post-holiday gift for a loved family member but can’t face shopping, consider paying for an estate plan for them. You will be less stressed, and they just might come to truly appreciate the nudge in the right direction.

-Melanie B. Holliman, JD