Up Close Publications
  • Home
  • Read Articles
    • Community
    • Education
    • Events
    • Finance
    • Food + Dining
    • Health + Beauty
    • Holidays
    • Home Improvement
    • Las Sendas Golf Club: A Closer Look
    • Local Business
    • Over 50
    • Real Estate
    • Sports
  • Events
  • Service Directory
  • Advertisers
  • Testimonials
  • About Us
  • Contact Us
  • Advertise
  • Contact Us
  • About Us
CALL US AT (480) 748-1127

Up Close Publications

ad Acoya
  • Home
  • Read Articles
    • Community
    • Education
    • Events
    • Finance
    • Food + Dining
    • Health + Beauty
    • Holidays
    • Home Improvement
    • Las Sendas Golf Club: A Closer Look
    • Local Business
    • Over 50
    • Real Estate
    • Sports
  • Events
  • Service Directory
  • Advertisers
  • Testimonials
  • About Us
  • Contact Us
FeaturedFinance

Make time to discuss future financial decisions with family

by Thrivent Financial Red Mountain Group March 1, 2016
written by Thrivent Financial Red Mountain Group March 1, 2016
Thrivent Financial Group

Thrivent Financial Group

Each year, thousands of Americans are thrust into the uncomfortable role of making long-term care decisions for their family members.

These emotional decisions may create stressful situations for the entire family, in addition to being time-consuming and expensive.

Fortunately, there is a way to help reduce the stress connected to these situations—communication. Discussing plans for long-term care before the need arises can greatly reduce the stress that may arise while dealing with an illness or disability.

Raising the subject may create some momentary awkwardness for both parents and their adult children. However, it is far better to discuss long-term care options ahead of time and together decide what makes the most sense for the family.

Thrivent Financial recommends families ask certain questions regarding a long-term care strategy:

  • Where and how you would like care delivered, if you were to need it.
  • The level of independence you’d like to maintain.
  • The role you’d like your family to play in your care.
  • How you want to fund your care, while protecting your assets.

Clear communication can help eliminate the problem of catching a spouse or adult child off guard. It also can help eliminate the burden of uncertainty with difficult decisions. Spelling out the location of important documents, as well as care wishes, ensures family members have the information they need to provide for their loved one’s desired care.

Create a financial and care inventory

It also is important to update family members on the location and status of financial and care documents. Having an inventory of these documents provides family members with a roadmap to critical information. It is focused on the where information on financial holdings is located, not specific details about the financial holdings. The inventory is not a legal document, and it need not divulge personal or confidential details you are not prepared to share. It should, however, enable loved ones to quickly locate where you keep your financial, legal, care and legacy records should a crisis occur.

This inventory should be updated at least annually, and copies given to family members—a lawyer or executor—or placed in a secure location where those who might need it can access it.

While each family’s inventory will differ, the inventory should include information related to where someone can find the following:

  • Living wills or health care directives.
  • Insurance and other contracts (health, life, long-term care, annuities, auto and homeowners, etc.).
  • Wills, trusts and deeds.
  • Bank accounts and investment accounts.
  • Credit card accounts and other outstanding debt.
  • Contact information for lawyers, accountants, brokers and agents.
  • Jewelry and other valuables.
  • Essential keys.
  • Instructions related to funeral arrangements.
  • Personal instructions or messages.
  • Location of birth, marriage and military discharge certificates.
  • Information related to charitable gifts.

While it may be a difficult topic, open and honest communication about your long-term care strategy can be one of the best ways to prepare for a stress-free financial future.

Thrivent Financial is represented in the Red Mountain area by Red Mountain Group, which includes Jeff Kolzow, Jeff Rodemeyer and Rick Aussprung, at 2941 N. Power Road, Suite 105. Call (480) 396-5333.            976203-072814

 

0 comment
0
FacebookTwitterPinterest
previous post
Self Development Academy Hosts Annual Information Night
next post
Online Offerings at Mesa Community College Garner National Acclaim

Related Articles

Why Is Choosing a Beneficiary Important?

December 1, 2018

Planning Ahead Is Important When Dealing with an...

March 1, 2018

Leasing Solar Panels Can Impact the Future Sale...

June 2, 2017

Find a balance to achieve financial goals

May 31, 2016

This is the Ultimate Checklist for Traveling Abroad

February 1, 2016

It is important to keep personal legal documents...

January 1, 2016

Time for Some New Year’s Financial Resolutions

January 1, 2016

Avoid Procrastination By Developing a Plan of Action

May 28, 2015

Let Cruise Planners Assist with Your Travel Bucket...

May 2, 2015

A life insurance policy can ensure family needs...

April 1, 2015

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Read Print Issue Now

find us on social media

Facebook Twitter Instagram Pinterest

Trending Articles

  • Mesa Citizen of the Year Association Honors Students for Exceptional Service and Lifelong Impact

  • Curiosity, Geometry, and Arts and The Shaping of The Future

  • So, What Kind of Music Do You Like?

  • Xoxo Charcuterie Mesa is aone stop solution for great events

  • Getting Off theLong, Uphill Bicycle Ride

Read PDF Editions





GET IN TOUCH

Kim Phillips
Publisher
(480) 748-1127
publisher@phillipswest.com

 


 
Monica Adair
Advertising Representative
(480) 772-1949
monica@goupclose.com

Email Us



    Sign up for our newsletter



      • Facebook
      • Twitter
      • Instagram
      • Pinterest
      • Advertise
      • Contact Us
      • About Us

      Ⓒ 2020 Phillips West Publishing | Website by Rangefinder Studios