It is often said that women outlive men. As a woman, that has always made me kind of
happy. I like my life quite a bit, so to
have more of it seems like a good thing.
I think that is too bad for men that they will die sooner. It wasn’t so long ago that a financial
educator pointed out the downside to this fact.
If women live longer, they will need more money. About the same time that this was pointed
out, another professional put it very bluntly, “If you are a married woman, you
should plan to be a widow.” Well, that
sure puts a different spin on it, doesn’t it?
Turns out that in addition to liking my life, I also like my husband. Most days, I like the thought of him being
around as we get older. Just the same,
the odds apparently aren’t in favor of that happening.
As unpleasant as it is to consider our own mortality or that
of those we love, it is sure to be part of some future reality. If you look at the odds and you feel you are
likely to outlive those you love, it makes sense to plan for that
eventuality. If you feel the odds are
you’ll depart first, it makes sense to plan for your loved ones to be cared for
when you are gone. Do you see where I’m
headed? Either way, planning is
important!
We have an opportunity for you to learn more about planning
for your financial future. Marsha
Goetting, MSU Family Economics Specialist, will be in Teton County on Monday,
March 9 presenting classes and taking appointments at the Stage Stop Inn. She’ll present, “Transferring Your Farm or
Ranch to the Next Generation” from noon-1:30 p.m. An evening program, “Think
You Know Who Receives Your Property When You Pass Away? Think Again …”
will be presented from 6:30-8:30 p.m. Register
for the free classes by contacting MSU Extension in Teton County at
466-2491. Each session will be different
and filled with information useful to families regardless of their ages or
financial circumstances.
In addition to the two classes, Goetting will be taking
appointments with families or individuals to discuss financial and estate
planning. Each appointment will be 30
minutes in length and filled on a first-registered basis. Goetting’s primary goal with these sessions
is educate people about options to consider and resources available. No legal advice will be given. The sessions are also provided free of
charge. There are five sessions still
available.
Some people may feel intimidated by the word “estate”
because it sounds rather distinguished and well-to-do. I remember a time when
the entirety of my estate would have included exactly two ugly couches. In reality, though, many of us have estate and
financial planning considerations, whether we realize it or not. For instance, do you have a life insurance
policy? If not, is it time to think of
one? How are the beneficiaries
designated? Do you have any bank
accounts? If so, how are they
titled? Do you have minor children? Who will make decisions on their behalf if
something happens to you? Do you have a
conservator or guardian designated in a will?
What about your vehicles or home?
How are they titled? Do you have
long-term care insurance, so that an unforeseen condition doesn’t place undue financial
hardship on your family?
Planning for the financial future may be just as important,
if not more so, for those who have less capacity to withstand a hardship as it
is for those with large, stately estates. For people with the resources to do so,
charitable giving might be among your considerations. I often think of the difference the Boe
brothers have made to so many individuals and organizations in Teton County
with the gifts they planned for with their estate. I
encourage you to register to attend the MSU Extension classes with Goetting, so
that you can make sure your resources outlive you and not the other way
around. You may also visit the MSU
Extension financial management website, or call your local office, to obtain
any of the 75 free resources Goetting has created for Montanans.
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