Remember the good old days of Grandma’s feather bed? Remember when you had a pillow fight with your brothers and sisters? Your parents were yelling at you to cut it out before someone got hurt.
And then one of the pillows broke open…
Wow! You’d never seen so many feathers. They were floating everywhere. And they landed everywhere. On things. Under things. Behind things. After Mom and Dad found out what happened, you and your siblings thought you’d never get the mess cleaned up. It took hours! Pretty soon it looked “good enough” and you moved on to other things.
| It was nine feet tall and six feet wide soft as a downy chick It was made from the feathers of forty eleven geese took a whole bolt of cloth for the tick It’d hold eight kids ‘n’ four hound dogs and a piggy we stole from the shed We didn’t get much sleep but we had a lot of fun on Grandma’s feather bed –Jim Connor (sung by John Denver) |
You can probably go back to that bedroom even today and find evidence of that pillow fight. That’s the way it is with many things in the financial world we live in. As we go through life, our battles leave lots of feathers lying around.
We pick up most of them. But there are always some we miss the first time around.
Could there be feathers left over in your financial life – feathers you may have missed cleaning up? What should be on your retirement and estate planning checklist?
- Beneficiary changes when life’s circumstances change.
- Corporate resolutions and minutes for key person life insurance.
- Assets not transferred (and titles not changed) after setting up a living trust.
- Wills not updated with the birth of children (or grandchildren) or – more critically – after the death of anyone mentioned in the will.
- Withdrawal notices after gifts made to life insurance trusts.
Take a few minutes. Do it now. Look around for the feathers you might have overlooked.
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I loved you site here and the comparison using the pillow fight. Actaully found it doing a google search for adults pillow fighting. Just curious – you ever had a pillow fight as an adult? ALSO who stopped at one pillow during those childhood fights.
Mark