Another important list to check!
This is the time of year for endless lists.
Dates of special events, and concerts and programs
Grocery shopping for the holiday meals for your family and parties for your friends.
Gift giving, and end of year commitments at home and at work.
While you are on a roll – add one more list!
Your charitable checkup.
Making this list and checking it twice is particularly important.
Meet with your attorney to review your estate planning documents.
Look at your will, health care directive, and power of attorney documents to make sure all names are up to date, and they reflect your wishes. Review any Trust instrument you might be utilizing. Your attorney can assist you with any updates needed.
Meet with your accountant to review your income tax withholding.
Talk to your accountant to see if the amount you are withholding still makes sense as you head into the new year. If you have a charitable budget, you follow every year, ask if the amounts will be the same, or if you will be able to increase your giving, or if you need to decrease your giving.
Meet with your financial advisor to review your assets. Assets can include cash, bank accounts, real estate, businesses, life insurance policies, stocks, retirement accounts, personal belongings, pets … you name it. If you have a good financial advisor, they will know your dog’s name.
Meet with Faribault Foundation to review your giving plan. After you have reviewed your estate plan and charitable giving goals, give me a call. If a Donor Advised Fund is right for you, I want to help. If you want to discuss your legacy and how it could be managed, I will collaborate with you and your trusted advisors to honor your wishes.
Document your final wishes: Be as detailed as possible about how you would like your loved ones to pay tribute to you, and plans for services. If your final wishes are part of a formal plan, let your family know where to turn when the time comes.
Talk to loved ones: Loop loved ones into the conversation about your estate plan as early as possible. This does not have to be morbid or stressful – just talk about what you have been thinking about.
Ok – that list got long – if it does not all happen before the end of the year – you can move any of these to the New Year’s Resolution list! From all of us at the Faribault Foundation, we wish you and your loved ones a happy and safe holiday season, and we will see you in January.
Laura Bock
Executive Director
Faribault Foundation
Your Community Foundation
507-805-8800
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