The Planner’s Role

AwhAnne_siting-Red-Dressile back my husband and I decided we needed to clean the storage area in our basement. We like to think of ourselves as organized people.  After spending a good hour going through things and making little headway, my husband said, “I think we should just give up on this and leave it for the kids to deal with when we die”. We laughed and after a slight hesitation (plausible excuses for abandoning the chore flashing through our minds) carried on.

Sadly, the procrastination associated with undesirable chores dominates the planning for about 50% of Canadians who should have a Will and Personal Directive Agent and Power of Attorney documents and do not. Not only does it take a considerable amount of thought and time and some expense to get those things in order, it also forces us to acknowledge the one absolute in all our lives: we are going to die and we do need to PLAN for it.   As kids and as parents the notion of “leaving it for the kids to deal with when we die” has some real downsides.  Those downsides are fodder for another blog.

 

The Planner’s Role consists of six activities:

  1. Acquire the Exit Savvy Planner’s Workbook https://www.exitsavvy.com/products-services/for-planners/ and review it. It provides a comprehensive guide for the work that needs to be done and will provide food for thought regarding your choices of Personal Representatives.
  2. Decide who you would like to have for your Personal Representatives – Executor, Power of Attorney and Personal Directive Agents.
  3. Consult an estate lawyer to ensure you are selecting individuals who are eligible and capable of carrying out the duties of those roles.
  4. Complete the Exit Savvy Workbook and the supporting activities discussed in it and have your lawyer prepare your Will, Personal Directive and Enduring Power of Attorney documents.
  5. Share your Plan with your Executor, Power of Attorney and Personal Directive Agent.
  6. Set and complete the annual review of your Exit Savvy Workbook and Estate documents to ensure they remain current and valid.
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