Time to Reflect

Remember the last time you got on an airplane?   Do you remember that gut feeling you had to make sure you turned off the lights, locked the door and updated your will?  

In pre-COVID times, there were different trigger points to review our estate plans - getting on an airplane, a big family event, selling a business.....COVID has made most of these events come to a halt or has slowed life down considerably.  

Why not take this time and space to reflect and make purposeful choices?  Here are a few questions to get you started:

Is now the time to invite the next generation to become shareholders? If not now, when?   What is the trigger point?    When will you know they are “ready”?

How can I build and ensure financial independence in a challenging economic environment?  What are the key elements that will help me sleep at night?

What can I do today to prepare my business or my balance sheet for the next generation?   

Is my will up to date and takes into account the skills and capacity of my beneficiaries?

Are my beneficiary elections consistent with my will?

Have I got enough liquidity to pay an increasing capital gains tax burden?

Have I got the kind of life insurance that won’t expire before I do?

What is the true legacy I want to create?

Can the next generation help co-create the future with me?

What conversation have I been waiting to have? Why wait?  

You may not have all the answers to every question, and those are the questions that you should spend the time and energy to experiment with. The answers are worth discovering.