It’s easy to procrastinate when it comes to certain tasks (especially when they’re related to final planning). But don’t you always feel better when you can check something off your to-do list?  

Misconceptions can make the process of creating a plan more confusing than it needs to be, so let’s set the record straight. 

Here are a few common myths that may be holding you back:

Myth 1: “A basic will is enough.” 

Having a will is better than having nothing at all, but you can do better. An advance directive, health care power of attorney and financial power of attorney can help protect you. And in some circumstances, a living trust may be more suitable than a will alone. It takes an attorney skilled in this to actually know what is needed. I can refer you to one who is.

Myth 2: “I don’t need to worry about this until later.” 

Most people who’ve experienced life-altering events like heart attacks or car accidents will tell you that they never thought it would happen to them. No matter your age, it’s smart to have documents in place to help manage your health and finances. 

Myth 3: “Others can take care of this when I am gone.” 

Well, for some things, yes, but that does not mean that is wise. Decisions made ahead of time will save money (a lot of money). And more importantly, when someone is gone there is a matter of cost. Pre-planning allows this to take place at a reasonable amount, as opposed to the horror stories many people tell regarding what they went through. And there are some things that “others cannot take care of”. It will be done by us, or it will not be done.  

It’s wise to review these things now. Planning for this can save a lot of money and guarantee results. (There are also other considerations that a person may wish to prepare for in case of serious illness and survival).

As always, please reach out anytime if you have questions or if you’d like to discuss your insurance needs. I am here to help. Michael Myers, CA License 0561502, (209) 390-1163.

Medicare Part D (Prescription Part) … and the temptation to postpone enrollment.

October 26, 2019

Is it okay to put off enrolling in a Part D plan when a person enters Medicare? Well, the simply answer is “you can”, but what are the ramifications of doing so? According to the Medicare Web Site: “Medicare calculates the penalty by multiplying 1% of the “national base beneficiary premium” ($33.19 in 2019 and […]

Read the full article →

Planning for Final Expenses – What Are The Choices?

August 26, 2019

It is a universal truth that we will all face the end of our lives at some point. It is logical that we plan for such an eventuality to save hardship on our loved ones. At the same time, we often know we should do this but due to the subject matter, we just kind […]

Read the full article →

So What’s All This About Medigap Plans C and F Disappearing?

August 24, 2019

As anyone who knows me knows, I have bee a big proponent of Medigap Plan F. This is because I think once someone gets on Medicare, they should not have to worry about what they have to pay and what Medicare or their Insurance Plan will pay. Just pay the premium and everything else is […]

Read the full article →

Life Insurance Quick Facts

August 6, 2019

Did you know that according to a recent study, Americans have a $200,000 shortfall in life insurance? Why is this? Often, people think that Life Insurance is expensive. And it can be, but it also doesn’t have to be. No two products are the “right product” for people of all ages. A young person will […]

Read the full article →