360° REVIEWS

In the 21st century we all live hectic, busy, crazy lives.  Few of us have time to ponder, to reflect, to plan and to consider.  Yet, there are times in our lives when it may be vital to our well-being to take the time to review where we are and to plan for where we’d like to be.  I call these breaks “360° Reviews” because you are looking at the full circle of your life.

 For your financial and legal documents, it would be best to review them once per year: perhaps at the start of a new year or on your birthday or anniversary.  In addition to this
standard annual review, I suggest that at each major life change you take some time to consider your financial and legal life. Is it where you’d like it to be?

Major life changes include inheritance, marriage, divorce, and retirement.  At each of these junctures, I recommend that you review your Will, Trust, Advance Health Care Directive and
Power of Attorney.  Do they still accurately reflect your wishes? Are the people you have named as your agents, executors and trustees still the people you would like to handle your affairs
when you can no longer do it for yourself? The people you have listed as your beneficiaries—are they still the people you would like to receive your gifts?

 If not, I recommend calling your attorney to update your documents to ensure that your documents are current. Do you remember how relieved you felt when you first signed your
documents?  By performing a complete 360° review and then updating your documents and keeping them current, you will feel just as relieved and ready to tackle what life brings to you next.

Originally posted by Susan on June 26, 2012.