Over a month into the new year, I have fully embraced this year’s challenge to Get My Ducks in a Row! Last year, the VNA & Hospice Foundation Planned Giving Advisory Committee organized an Estate Planning Series called “Get Your Ducks in a Row.” The saying “practice what we preach” inspired me to kick off my personal journey of ensuring my ducks are, indeed, in a row. While my ducks may be well-behaved, they are certainly not lined up—yet!
Step 1: Take Inventory of Assets
Last month, I began by creating an inventory of our assets. While there are still a few items we’re tracking down, completing the bulk of this step has been an incredible relief. If you’re just joining me on this journey, don’t worry—you can start anywhere!
Step 2: Review Financial and Online Accounts
This month, I’m dedicating time to:
- Reviewing all financial accounts (checking, savings, retirement) and credit cards.
- Creating a secure, centralized record of online usernames and passwords, including social media accounts.
I’ve opted to use a spreadsheet to organize this information, which I’ll print and store in our safe. Don’t forget to include crucial details like your Apple ID, email passwords, and computer logins. Should something happen to you, it’s essential that the right person has access to this information.
As I update these accounts, I’m ensuring my contact information is current and shredding unnecessary documents. I’m also making sure each account has a designated beneficiary. For example, I’ve allocated my IRA to my husband with a percentage going to my favorite charity, the VNA & Hospice Foundation.
A Guideline to Begin Your Journey
- Take Inventory
- List assets, liabilities, and key documents.
- Confirm you have titles for vehicles in a safe location.
- Define Your Goals
- Decide who you want to inherit your assets.
- Consult Professionals
- Each state has unique rules regarding wills and trusts. Seek guidance from an estate planning attorney and financial advisor.
- Communicate Your Plans
- Share your plans with loved ones to ensure clarity and ease.
- Organize Financial and Online Accounts
- Create a secure file with usernames, passwords, and account details.
- Consult a professional advisor about Payable On Death (POD) options for bank accounts.
The Importance of Planning
Taking the time to get your ducks in a row isn’t just about preparing for the inevitable, it’s about creating a legacy of care and love for those who matter most. Clearly documenting your wishes alleviates stress for your family and friends. It’s a meaningful gift that ensures your intentions are honored.
If you plan to include a favorite charity like the VNA & Hospice Foundation in your plans, please let us know. I would love to discuss how your gift can be used and how we can recognize your support. Feel free to contact me, Maurika Reed, Principal Gift Officer, at 772-978-5574 or via email at mreed@vnatc.com.
Visit the VNA & Hospice Foundation – Planned Giving Home to download our Estate Planning Guide and start your journey today!
