Steps 5 & 6 of the Financial Protection Program Explained

Don’t you hate it when you get an unexpected bill or the car needs unexpected repairs? It is in our nature to plan and prepare. Most of us don’t like surprises coming out of nowhere. Why then do so many of us leave our ultimate panning–our legacy–planning to the last minute or don’t do it at all?

Through the Financial Protection Program (FPP) offered by HSA for America, you can work to not only plan for unexpected medical events and your retirement but also for your family’s future long after you are gone. Steps 5 (creating a living will) & 6 (complete your legacy planning) of the FPP is explained below.

What is Legacy Planning?

Everyone has a legacy. What do you want your children to remember about you? What about your grandchildren? Your great grandchildren? What do you want to pass on and to whom?

Legacy planning is much more than estate planning, although estate planning is a part of legacy planning. Legacy planning encompasses identifying those values, family history, material items, and information you would like to pass on to your family. Legacy planning provides a holistic look at what you value and ensures it is passed down to the future generations.

Of course, not all legacy planning occurs after you are gone. While having clear instructions for your values and belongings after your death will provide your family comfort, so will leaving guidelines for your health and wellbeing should you not be able to make decisions.

Don’t Forget Your Living Will!

The living will may be one of the most important documents you can develop. A living will lays out what treatment options you would prefer if you are not yourself. It also allows you to identify someone to act as medical power of attorney who can make medical treatment decisions on your behalf if your living will doesn’t apply to your specific situation.

A living will is an important document that can give you and your family peace of mind in knowing your wishes are being carried out and your family will not have to worry about what you would want during such a trying time.

If you don’t have a living will, develop one today! Here’s a great free online tool that you can use to create your living will.

It is a critical part of your legacy planning and will bring ease to both your and your families’ mind. If you do have a living will remember to review and update it yearly!

Next Steps

This Financial Protection Program is about making sure you have taken the right steps to protect your assets and health. A comprehensive protection plan includes ensuring that you have developed plans in case you are unable to express your medical wishes, and plans for once you are no longer living. If you have any questions, talk with your trusted Personal Benefits Manager to know your options and get further information.

Click here to schedule an appointment, or call 800-913-0172 to get started.    

To your health and wealth,

Wiley P. Long, III
President - HSA for America

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