In celebrating the International Women’s Month and #PressingForProgress, Radix Trustees Limited understands that the first step to empowering a woman is to educate her to value herself and protect herself and her loved ones. A woman is empowered when she can make decisions for herself or has a say in the decisions that directly or indirectly affect her wellbeing. It is terrifying when a woman finds herself as a spectator in her own affairs and helpless especially with regards to her finances and children.
It is more important than ever in these modern times that women educate themselves about the power of wealth and legacy. Education and access to information leads to empowerment. Empowerment leads to action. The time to educate, step into power and act is now.
Estate planning is much more than what happens when you die. The most prevailing Estate planning question for an aging population should be: Have I protected myself? It brings to mind, what flight attendants tell us every time a plane is about to take off – if the pressure in the cabin changes and you are travelling with a small child, put the mask over your own face first. You cannot protect another if you have not protected yourself.
Have you given some thought to what would happen to you if you were suddenly unable to make your own medical or financial decisions? Who would you select to make such decisions in your stead? Do you have controls in place to ensure your choice does not act outside the boundaries of your instructions?
A critical part of estate planning that is often overlooked is not about your death or disability, rather it is about the death or disability of someone y0u depend on emotionally or financially.
- As a young or middle-aged person, if your parents die, are their affairs in order? Do you know what to do and where to go?
- If your spouse or partner becomes disabled, what happens to you financially, have you thought through and planned for that?
- If your spouse dies before you, what is the financial impact to you and your children? On your income, debt and assets? Are you protected enough to survive the challenges that come with being thrown into the deep end?
- If you are in a second marriage and your spouse dies before you, what is the financial implication on you? Are your financial affairs entwined with children from a prior marriage?
- If for any reason you need to leave your abusive marriage with your children, are you protected enough to take the bold step to ensure your survival?
- Have you made adequate plans to protect your children with your choice of guardian if anything happens to you and spouse or partner?
As life and circumstances change, for better or worse – it is important to note that life is a movie, events unfold and bad things inevitably happen. You need to start thinking about planning NOW – when you feel there is absolutely no reason to do it, the more reason to focus on planning.
Don’t be like the person who says I can’t be thinking about that now, it is bad to start thinking about the end of life. You might think you have another day, but it is not a guarantee. Think about it now, start the planning process to protect you and your family TODAY, one step at a time.
As we Press for Progress, let us remember progress can only be achieved when women cease to be victims of circumstances. Empower yourself with the knowledge to make smart investment and estate planning decisions. Radix Trustees Ltd, a team of professional Estate Planners is willing to come to the rescue. We are just a call away from YOU!