What to do next
Getting your estate plan done is an incredible step in getting it together. Congratulations!
Now is a perfect time to have a think on any other important things lingering out there - you're already on a roll, so let's get all your i's dotted and t's crossed. Here are our top 5 suggestions:
1. Life insurance and retirement accounts: Believe it or not these are typically not covered by your will. Instead, the money goes to the beneficiary on the account or policy. You will want to check and make sure that person listed (if there is one) is the right person.
Do you have enough (or too much) insurance?
When was the last time you updated the beneficiaries?
Next: Read up on Insurance.
2. Savings: We've all heard "Don't spend more than you make." I know. But, if something happened, would you or your family have an emergency fund to tide them over. It's a great idea to calculate what you'll need and start saving immediately. Common advice is to have at least six months of basic expenses covered.
What would happen if something happened?
Could you run a few 'what-if' scenarios and shore up any uncertain spots?
Next: Check out our guide to Money.
3. Account locations: You could have all the savings in the world, but if no one can access them, that would be extremely not good. Especially important in our electronic age is ensuring that someone can access the email address where you receive bills.
Could you organize your stuff so someone can find it?
Next: Read about wrangling your Digital Details.
4. Talk with your family: Make sure they understand what you've done, where things are, and what to do in case something happens. You'll also want to know where their important documents are too.
How can you start the conversation with your family?
Next: Read GYST's blog full of suggestions and success stories.
5. Your legacy. Still have the Great American Novel kicking around in your head? Now that you've gotten your shit together, it might be a good time to start writing it down, take up painting again, or doing whatever other great project you have in mind. The days are long but the years are short, my friend.
What makes you happy? How might you make more of that?
Next: Watch GYST's favorite Videos on life and legacy.