A Labor Day Weekend Thought: Protecting What You’ve Worked For

Labor Day weekend is often a time to slow down, enjoy an extra day with family and friends, and recognize the hard work that goes into building a life.

Over the years, that hard work may result in a home, savings, retirement accounts, a business, personal belongings, and—most importantly—a family you want to protect. While estate planning may not be part of your holiday weekend activities, the occasion offers a meaningful reminder to consider what would happen to everything you have worked for if the unexpected occurred.

Here are a few questions worth thinking about:

• Do the people closest to you know where your important documents are located?
• Are the beneficiaries listed on your retirement accounts and life insurance policies still correct?
• Have you selected someone you trust to manage financial matters if you become unable to do so?
• Have you documented your health-care wishes?
• Does your current estate plan reflect recent changes involving your family, finances, property, or business?
• Would your loved ones know whom to contact and what steps to take during an emergency?

You do not have to spend the entire weekend reviewing documents. Simply starting a conversation with your spouse, adult children, or another trusted person can be valuable. Letting someone know where important information is kept—or identifying an area that needs attention—is a meaningful first step.

Estate planning is not only about distributing property after death. It is also about preparing for incapacity, providing clear guidance, reducing uncertainty, and helping the people you care about during difficult circumstances.

As you enjoy the holiday weekend, take a moment to appreciate everything your hard work has helped you build. Then ask yourself one simple question:

Have I made a plan to protect it?

A little planning today can provide greater clarity and peace of mind for you and your family tomorrow.