Stone Or Sand - What's Your Financial Foundation Built On?


Ask any architect or contractor you know, and they will tell you the key to a successful building is a strong foundation. The same is true for your financial castle. If it’s not built on a solid foundation - your castle is at risk.

The good news, laying a firm financial foundation begins with some tried and true bricks around what is covered and who has decision-making power over what during challenging or transitional times. Here are 5 rock-hard assets we go-to for laying the right financial groundwork with our clients.

  • Insurance: Proper coverage for your home and auto policies can prevent you from being caught off guard. These policies may be just as important as life insurance to protect lost income.

  • Wills: A will is used to direct your assets at death. Creating a will is one of the most important and loving things you can do for your family.

  • Health Care Proxy: Also known as Healthcare Power of Attorney. This identifies the person you designate to make health care decisions if you cannot speak for yourself.

  • Durable Power of Attorney: A Durable POA is used to designate a person who can make financial decisions on your behalf, in the event you cannot make decisions for yourself.

  • Living Will/Advanced Directive: A legal document that states your wishes for end-of-life medical care if you are incapacitated and unable to state these things yourself.

If you have all of these, well done, but don't let them collect dust. Plan to review these assets annually, to make sure everything is still properly designated. Pro tip, share copies with your financial advisors (like us) to keep on file.

If you do not have these please (please, please, and please!) make them a priority. You never know what will happen, but no one ever regretted being over prepared when it comes to these challenging moments. If you need recommendations for an Estate Planner, our office would be happy to make a recommendation for you.

How about adult children? When Scott (my brother) and I each turned 18, my parents made sure we both had a Healthcare Power of Attorney. We each kept a copy in the glovebox of our cars and they had a copy at home too. As an “adult” our parents were no longer legally allowed to make medical decisions for us should we not be able to, so this was a pivotal point for us as a family to revisit our plan and adapt it.

What is your financial foundation built on? We are proud to assist you with building your castle and making sure all your efforts are protected.


Interested in learning more about our approach and how we can support you? Get in touch with us today.

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