It’s the End of the Year!!! It’s time to Assess!!! “ Planniversaries”!
Most of us start or think of at least one New Year’s resolution. Some of us even write and establish goals. Now that the end of the year has come, have you carried out your resolution? Have you achieved your 2016 goals? Stephen Covey has been quoted for writing with “the end in mind.” It is “with the end in mind” I encourage all of us to Create the Legacy that we want to leave behind. We start life clueless and our desires change as we grow older and our circumstances change.
With each year comes new priorities and a different starting point to achieve those priorities. Well now is a good time for an assessment as to what we were able to accomplish or not. Will we formalize new priorities or not? As an estate planning attorney, and as a person, I love to celebrate many little things. The Griffin Firm believes in reaching out for what we call “planniversaries”. This is the annual review of the estate plan that you created. We know that circumstances change and subsequently we should review the current plan to be sure that it still meets your new circumstances.
While we only work to create estate plans at The Griffin Firm we know that there is more that is necessary to build a complete strategy for legacy. I encourage everyone to have a personal Board of Directors. Your Advisory Board should provide for you the strategy for building your legacy based upon your mission statement. The mission statement need not be as thought out as that of a fortune 100 company but it should be important for you and inspire, encourage and direct your actions and resources.
If you have one trusted advisor, for example, an estate planning attorney, get a recommendation for a life insurance professional, a financial advisor and a tax accountant. This team will work together with you to shape the action plan to build your legacy.
Assessment should begin with taking reflective time to review the goals that you have that identify success for you. Success has a different meaning for each person. Our values and our circumstances help us to determine what our success looks like. As is reflective in Maslow’s hierarchy of needs, one must look to have physical needs met before seeking the need for belonging. The ultimate need is described as that of self-actualization. The self-actualization is the focus of the legacy.
We are multifaceted beings. We can’t disregard one for the other as we know that we can’t be happy if we have a great deal of money but are in great physical pain. Our assessments must include the different facets of our being. We must also look not to fulfill our today needs. As a 20 something year old I had the physical stamina to work multiple jobs when needed. Today as a 50 something year old I know that it is necessary to work smarter because I need to get adequate sleep.
As we assess where we are from this New Year to the end of the year while planning for the future we should surround ourselves with Advisors who have proven wisdom in their field, compassion for others and values that reflect yours.
Make every year a greater year because you have planned for it.
By: Aimee D Griffin, Esq.
Featured Article in the Washington Informer – December 2016
Photo Credit: christianculturecenter.com