As we enter into Black History Month, I am always excited about how we are able to shape the future. I know that estate planning is the strategic considerations and implementation of actions to shape the generations to follow. While I am indeed biased, I know the power that we have in building and planning the future. We sit with individuals and families to discuss laying the framework for the future. We analyze now so that we can build tomorrow.
As the Life & Legacy Counselors, we say that we are building strong communities one family at a time. We know that there is an impact overall with each action of the individual. We know the impact of the reduced property value of a home reduces the comparable values of the other homes in the community. We know that whether we plan or not, life will continue. Our lack of planning does not exempt us from being subject to the realities of this life.
Individually we can be responsible for strategically planning for our financial health and well-being. Individually we can be responsible for creating the financial road map to allow financial self-sustainability throughout our entire life. Individually we can make the decisions as to who and how we will be cared for if we are unable to care for ourselves. Individually we can provide the information and resources necessary to facilitate our care.
While these actions provide for our individual financial and in many cases our physical care, it has a collective impact. It affects our loved ones emotionally to not be concerned about what resources will be available to care for us. It affects our loved ones to not have to become investigators to search and research the resources that are available. It affects our loved ones to not have to provide the resources necessary to care for us. Making efforts to produce the plans to care for ourselves will prevent us from being a burden to those who love us.
Moving beyond not being a detriment, we have an opportunity to be a blessing and build up our families and communities. With strategic planning, we can support those we love by investing in our families through building a plan for strategic growth. I always encourage people to define broadly the word family. Family in my dictionary is not limited by biological or legal relationships. It can be defined as those folks that we love and/or love us. We can also be thoughtful about blessing our community and affecting people we may never know. Again, I remind us of Osceola McCarty. She was one of the greatest benefactors of the University of Southern Mississippi.
Osceola McCarty was a laundry woman who was thoughtful to seek advice from an estate planning attorney and a financial adviser. She was able to donate $150,000 to children who wouldn’t be able to afford to go to college. She affected people who would have never met her but their lives will be changed because she strategically planned. She had a collective impact with her individual action.