Jane and Joe Johnson had always been the type of people who got their assignments done on time, usually early, throughout high school and college. They were the Class President, Football Captain, and Head Cheerleader—always picked as leaders. They were always prepared for everything. Among Jane’s friends, the joke was that her purse had everything you’d need for the zombie apocalypse.
They had just bought their first home and wanted to ensure their children’s future was secure. Since I had helped Jane’s parents, they came in to start their estate planning early. A comprehensive plan was set up, including a Living Trust and Healthcare Directives.
Last year, Joe faced a sudden health crisis. Thanks to their prior planning, Jane didn’t have to worry about legal or financial uncertainties during an already stressful time.
Joe’s health is better now, but they remain cautious. He is working with his financial planner to ensure that Jane and their children will have enough money to get through tough times, should the worst happen. Jane, though brilliant and creative, dislikes managing money. Joe, having acted as his parents’ co-trustee, helped his parents manage their finances during his dad’s illness without undermining his father’s sense of control. Joe wondered if they could arrange something similar for their own family.
Jane’s sister, who is the executive assistant to the head of a successful company, is the perfect Trustee. She’s organized, trustworthy, and experienced in managing money for others. We added her as co-trustee with Joe and Jane. She has since been included in conversations with their financial planner and is listed as a co-manager (not co-owner) on their accounts. During Joe’s recent treatment, Jane’s sister took care of paying the bills and managing their finances, which was a huge relief for both Jane and Joe.
If you want to be prepared, give me a call.
