002 Estate Planning with Ray Console

Description

Summary

In this episode of Decluttering 55+, Michelle Passoff and Ray Console discuss estate planning and the importance of having a team in place to take care of your affairs. They emphasize the need for a healthcare surrogate and a financial surrogate, who can make decisions regarding your medical needs and manage your financial affairs when you are unable to do so. They also mention the importance of having a will and other legal documents in place. It is recommended to review and update these documents periodically as life circumstances change.

Takeaways

Estate planning involves more than just writing a will; it also includes appointing a healthcare surrogate and a financial surrogate.
A healthcare surrogate is responsible for making medical decisions on your behalf when you cannot do so.
A financial surrogate manages your financial affairs when you are unable to do so.
It is important to have legal documents, such as a living will and a power of attorney, to designate your surrogates.
Review and update your estate planning documents periodically to ensure they reflect your current wishes and circumstances.