October 4, 2023

At any age, getting your personal affairs in order and helping others, such as aging parents, to do the same can feel like a daunting undertaking.

As you consider your family and the legacy that you want to leave, remember that being organized is one of the best gifts that you can provide to your loved ones. Can they respond in an emergency with the right answers to questions from doctors and financial advisors? Do they know where to find all of the necessary information to ensure that your wishes are honored? Have you answered all of the possible questions now so that there isn’t potential ill will created amongst your survivors?  Being prepared with this information now can help alleviate stressors for them in the future.

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To help get you started, Cape Cod 5 has put together a short list of things to consider. We suggest setting aside time to make progress on this list so that you can give yourself peace of mind and create the foundation for preparing your financial, legal and medical documents. 

  1. Physical affairs: create a list of all physical items of value, including jewelry, artwork, automobiles, furniture and items of sentimental importance. 
  2. Financial affairs: create a list of all financial assets, including checking, savings and retirement account information, brokerage accounts, insurance paperwork and loans such as your mortgage, car and student loans and credit cards. 
  3. Medical affairs: document your medical history, allergies, medications and doctors. Do you have a living will, health care proxy or durable power of attorney for your health care? Note where those are stored! 
  4. Professional affairs: write down the name of your financial advisor, attorney, accountant and power of attorney. Contact a professional to create a will or trust, if you do not already have one. 
  5. Make introductions: make sure someone knows who your advisors are, where your important information is located and what your wishes are.
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Once you have all of this information in one place, it’s easier to take the next step and create a will or trust. Hiring an elder care estate planning attorney to help walk you through this may also be worth the investment. 

Looking for guidance preparing your financial affairs? Our team is here to help. You can work with our Wealth Management team, or call us at any time at 877-409-5600.


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