Remember the 1990 comedy Home Alone? Kevin thinks his wish has come true. On the eve of a family trip to Paris, and after a night of ridicule that only younger siblings understand, he wishes that his family will disappear. Through a series of unlikely events that night and the next morning, his family leaves in a rush for their Paris flight without him. He awakes to an empty house, and he is elated.
While wandering around his neighborhood, Kevin overhears a couple of con men discussing plans to burglarize his house. As soon as Kevin learns that his house is at risk, he is motivated to do whatever he can to protect it. He sets clever booby traps that the con men encounter upon breaking in. Kevin and his traps force the burglars out, but the men corner Kevin in a nearby vacant house. While the bad guys argue about how to extract their revenge, a neighbor appears unexpectedly and hits the con men over the head with a snow shovel.
Kevin learned about a threat. He developed a plan to address that threat. With some timely help, he succeeded in protecting himself and his home.
You and Kevin are more alike than you realize. Your home is at risk. While it’s unlikely that a couple of con men have been casing the place, your home is subject to more serious threats. And it’s not just your house that’s vulnerable. Your bank accounts, retirement accounts, and investments are all at risk.
Benjamin Franklin warned about two certainties in life for which everyone must plan—death and taxes. A third threat you must anticipate is the need for long-term care and the high costs associated with that care. These three threats to your assets are much more dangerous than the burglars Kevin fended off with this traps.
To protect your assets from these threats, you need a thorough plan. Your plan must address probate court and its high costs, long delays, and total lack of privacy. Your plan must consider the tax ramifications of your actions. And your plan must provide some protection against the high costs of long-term care to ensure you still have assets to pass on when your journey comes to an end. The motivation for planning must start with you, but just like Kevin, you’ll need some help along the way.
If you’d like to learn more about what it takes to have a plan that won’t fail you when threats arrive, order a copy of my book, You Need A Plan, at YourPlanMatters.com. Or call now for a no-charge strategy session. Don’t wait—get help before you need it.