Creating your strategy

Identify Your Role

Which Hat are you Wearing?

Yourself

Power of attorney

• Manages finances
• Can change estate plan
• Possibly can gift assets
• Handles taxes

Exercise

If Not You, Who?

Who to name

• Trust
• Capability
• Capacity
• Understanding

Health Care Power of Attorney

• Only makes decisions if you can't
• Where to live
• What treatments to receive
• When to stop

Who to name

• Trust
• Availability
• Empathy
• Cooperative

Exercise

Guardianship

Next Steps

• Organize
• Inform
• Explain

Exercise

Others

Are you acting correctly?

• What's your role?
• What's your duty?
• What's your authority?
• What's your responsibility?

Plan

• If not you, who?
• How to finance?
• Understand
• Document
• Discuss

Business

Where to start

• What needs to be done?
• Who can do it?
• How do we authorize them?
• When you stop working

What do you need

• Powers of attorney
• Clear ownership records
• Organized financial records
• Buy/sell agreement
• Will or trust with appropriate provisions

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