This week, we invite you to reflect on everything you’ve worked hard for throughout your life.
Reflection No. 1: Remember When?
Do you remember your first job? It may have been babysitting for a neighbor or mowing lawns when you were a kid. Or maybe you had a part-time job in high school in the evenings and on weekends. As you grew up and became a young adult, how did it feel to have that first taste of independence? For the first time, you were able to decide what to do with your time and money, and that felt extremely empowering, right? You may have also worked hard for this financial independence, with a full schedule balancing classes, homework, extracurricular activities, and a part-time job.
Even if you didn’t have a part-time job with financial independence as a young person, you probably still worked hard. You worked hard in school to get good grades, or you worked hard at sports or playing a musical instrument.
There are many different types of work, and one thing they all have in common is the sense of pride and accomplishment when you see the results. That feeling is hard to beat and so worth all the blood, sweat, and tears.
Take a minute to remember your accomplishments as a young person and how you felt as you tasted independence for the first time. What would you want to share with your kids or nieces and nephews so they learn from your experience?
Reflection No. 2: In the Thick of It
As you grew into an adult, your work evolved. You may have spent many years in school completing a degree program. You probably got that first “real” job, whether you went to college or not. Another first in your life was when you had a full-time job making full-time money, but also with full-time adult responsibilities.
During this phase in your life, you may have bought your first home and had children. You may have also taken on debt in the form of a mortgage or a school loan. If so, you’ve no doubt worked hard to make your payments in full and on time.
This is the stage of life where you’re in the thick of it. You may even feel like all you do is work, even if it’s work you aren’t being paid for. But isn’t this a wonderful time, too? If you have children, you work hard to teach them what they need to know to become successful adults. You also support them financially to ensure they have all they need in life. When you see them grow into adulthood, you see the results of all your hard work for them as they become caring, compassionate, productive members of society.
You’ve undoubtedly worked hard if you start a business during this time. You probably gave most of your time, energy, and attention (and maybe even money) to make your dream a reality. You’ve worked hard to create jobs for other people who need them. You’ve created a solution to a problem that didn’t exist before you came along.
Take a moment to think about what you’ve accomplished with all your hard work. Have you enriched other people’s lives? Have you supported the people you love most to grow into their full potential? Have you created something in the world that wasn’t there before? What else? Think about not only the tangibles, like creating a business or succeeding in a demanding career, but also the intangibles, like the love you give and receive.
How do you feel as you reflect on your life at this stage? Has all the hard work been worth it? What do you want to pass on to the people you love?
Reflection No. 3: What Happens Next?
As you become older and wiser, your work shifts again. At this stage, you may retire from a career or become ready to exit a business, and if you have children, you’ve seen them in their own careers and have their own families. Now is the time to truly enjoy all the fruits of your labor. It’s also time to think about what happens next.
Assuming you live long enough to reach this stage of life, what can you do to ensure that all the hard work you spent throughout your life isn’t wasted? What can you do to make sure that when you’re gone, the assets you’ve worked hard for don’t get lost and turned over to the Department of Unclaimed Property, subject to the claims of creditors or squandered by irresponsible heirs?
More importantly, what work can you do to ensure your family doesn’t end up in court and conflict with each other, potentially resulting in irretrievably broken relationships? After all the time, energy, and attention you’ve put into those you love, you don’t want to see this happen. The work here involves making big decisions, documenting those decisions, and communicating them well with a Life & Legacy Plan.
A Life & Legacy Plan is a complete estate plan that ensures your life’s work isn’t lost, wasted, or results in a mess for the people you love. It ensures your hard-earned assets are passed to those you want in the way you want when you’re no longer here, and it ensures your wishes are honored if you become incapacitated. A Life & Legacy Plan also preserves the family relationships you’ve worked to cultivate by keeping your family out of court and conflict. Finally, a Life & Legacy helps you pass on what matters most: your legacy.
How We Help Secure Your Life’s Work
Your life’s work is a testament to your dedication, perseverance, and love. From your first job to your current achievements, you’ve built a legacy worth protecting. Consider how you want that legacy to endure. Take control of your future and protect what matters most by creating a comprehensive Life & Legacy Plan with us.
AB Law, PLLC is a full-service business law and estate planning firm that serves clients throughout Texas. All consultations are free and no question is too silly, ridiculous, or complex. https://calendly.com/ablawpllc www.ab-firm.com