Benjamin Franklin is one my favorite historical figures. Besides being a founding father, inventor, journalist, statesman, abolitionist and so on, he had an unparalleled wit and colorful manner. And who doesn’t appreciate a renaissance man who was also known to love a good beer?
It was Franklin who said that in this world, “nothing can be said to be certain, except death and taxes.” But he wasn’t done on the subject. He also wrote “Some people die at 25 and aren’t buried until 75.”
Both of those quotes are instrumental for this discussion. Estate Planning. From 20 years as a practicing attorney and now as a financial advisor – I can tell you there is not one thing people put off more and which brings about more anxiety than estate planning.
It’s understandable of course – talking about your inevitable demise and leaving behind your loved ones is not the cheeriest of topics to be sure. However, it can serve as a source of freedom and joy as well.
Why do we work so hard?
Who lies at the base of our motivations?
Far more often than not, it’s our family. We want our spouses/partners and our children to live the best lives possible. Taking the time and effort to put some estate planning into place ensures that when we have shuffled off this mortal coil, those left behind will be seen to in an organized and stress-free fashion. This is a tremendous gift to those we love.
The planning may consist of something as simple as a will, power of attorney and health care proxy. It could require, depending on assets, more complicated measures such as trusts or corporate succession agreements.
No matter the complexity, completing these documents and knowing that you’ve done what is necessary to protect and provide for those you love – will bring you an amazing sense of lightness and freedom. I have seen it time and time again.
Once you get this task behind you, you can get to go back to living so that you are not amongst those who Franklin references above – the ones who have not lived their lives fully.
Franklin spent a lifetime learning, challenging himself and constantly evolving. He noted “when you’re finished changing, you’re finished.” We would all be wise to remember that. Live well, live with love. Until next time.
Original content provided by Gregory Mattacola, Esq., Financial Advisor at Strategic Financial Services. Content is provided for informational purposes only and should not be used as the basis upon which to make investment or financial decisions.
About Strategic
Founded in 1979, Strategic is a leading investment and wealth management firm managing and advising on client assets of over $1.8 billion.
OverviewDisclosures
Strategic Financial Services, Inc. is a SEC-registered investment advisor. The term “registered” does not imply a certain level of skill or training. “Registered” means the company has filed the necessary documentation to maintain registration as an investment advisor with the Securities and Exchange Commission.
The information contained on this site is for informational purposes and should not be considered investment advice or a recommendation of any particular security, strategy or investment product. Every client situation is different. Strategic manages customized portfolios that seek to properly reflect the particular risk and return objectives of each individual client. The discussion of any investments is for illustrative purposes only and there is no assurance that the adviser will make any investments with the same or similar characteristics as any investments presented. The investments identified and described do not represent all of the investments purchased or sold for client accounts. Any representative investments discussed were selected based on a number of factors including recent company news or earnings release. The reader should not assume that an investment identified was or will be profitable. All investments contain risk and may lose value. There is no assurance that any investments identified will remain in client accounts at the time you receive this document.
Some of the material presented is based upon forward-looking statements, information and opinions, including descriptions of anticipated market changes and expectations of future activity. Strategic Financial Services believes that such statements, information, and opinions are based upon reasonable estimates and assumptions. However, forward-looking statements, information and opinions are inherently uncertain and actual events or results may differ materially from those reflected in the forward-looking statements. Therefore, undue reliance should not be placed on such forward-looking statements, information and opinions.
No content on this website is intended to provide tax or legal advice. You are advised to seek advice on these matters from separately retained professionals.
All index returns, unless otherwise noted, are presented as price returns and have been obtained from Bloomberg. Indices are unmanaged and cannot be purchased directly by investors.