Back in 2010 Cris Carter of Cris Carter Law wrote an excellent blog article about the perils of being legally unprepared for death and divorce. Once you’ve put all that effort into creating great original content, the thing to do is then reuse it in as many creative ways as possible without getting redundant. I had the opportunity to help Cris do what we like to call ‘repurpose’ her existing excellent content for a new marketing opportunity.
At first the goal was to pull about 260 words of the highlights of her extended article for a 1/2 page ad in a local business magazine. Here’s what we came up with:
Divorce, death and disability are not happy words, but sooner or later they do show up in all our lives. If that occurs today, will you be ready? The sad fact is that most people are not and loved ones are left to pick up the pieces at a time when they are least capable of doing so.
So what does a responsible person do? They are proactive in their planning and put legal mechanisms in place to protect their investments and businesses.
Divorce- ‘Prenup’ is seen as a dirty word when you are getting married but if you are in business you still need a legal document to protect you and your associates if one of you ends up in divorce court, becomes disabled, or dies.
Disability- People think that death is the worst case scenario but disability can be much worse in terms of long term drain on your family’s emotional and financial resources. Without proper planning, a judge and appointed “experts” could be operating your business.
Death- Will or no Will, did you know that only a ‘Trust’ can keep you out of the courts? You owe it to your loved ones to have a well thought out plan that will protect them.
You may not be able to predict which Big Fat “D” will show up, or when, but you can protect your loved ones. Stop pretending it won’t happen to you. Check in with your attorney and get your safety net in place for your family, business, and financial matters before the Big Fat “D” arrives at your doorstep.
Then just before things went to print Cris upgraded to a full page, so I was able to add some important points and some more of Cris’s great personality back in and we went with this:
Divorce Disability Death
Not happy words but one of them is sure to show up in your life. Most likely without warning and when you least expect it. Will you be ready? Or is your head stuck in the sand believing that you’ll have time to take care of the planning ‘later’. It is a sad fact that most people won’t get to it and your loved ones will be left to pick up the pieces at the worst possible time.
So what does a responsible person do? They are proactive in their planning and put legal mechanisms in place to control and protect their investments and businesses. But you have to do it now!
Consider the Ds.
Divorce- Although a ‘prenup’ gets a lot of bad press and can be a dirty word to some, it can save a lot of headache in the future. Put a document in place to clarify what happens to your business if you or one of the business members gets divorced, disabled, or dies. Without a written agreement you could end up doing business with a former spouse or someone completely unqualified that you’ve never met.
Disability- People think that death is the worst case scenario but disability can be much worse. Disability can result in very long term drains on the family’s emotional and financial resources. Without proper planning, you could face a court appointed conservator, court appointed guardian, and a myriad of experts also appointed by the court operating your business with all the additional expenses they bring along.
Death- Many people know that if you die ‘intestate’ (meaning without a valid will in effect at the time of death) your loved ones will be at the mercy of the court to divide your estate. Most people don’t know that even if you do have a will, the court will still be involved until the will is probated. When the court is involved, there will be court costs which can include things like clerk’s fees, accounting fees, appraisal fees, bond and insurance fees-Are you broke yet? As I tell my clients, you can pay me a little money now or your loved ones can pay me a lot more money later. Consider taking the time to set up a Trust that will keep your loved ones out of the courts. What about family harmony? Realize that there is no “fun” in dysfunctional when we are talking about your family members and the court system. You owe it to the ones you love to have a well thought out plan that will protect them and enforce your wishes.
You can’t know which Big Fat D is in your future, but it is GUARANTEED to have a negative impact on your loved ones, your finances, and your business unless you have planned well.
So stop playing games. Stop pretending it won’t happen to you. Do what is right and do it now!
You are responsible for protecting your loved ones and what they have to deal with once you’re gone. Check in with your attorney and get your safety net in place for your family, business, and finances before your BIG FAT D arrives at your doorstep. Get your business and personal legal matters in order now so your ones are not the big losers of money, time and grief.