Death, as inevitable as taxes.
Live without regrets. As I am now fully entrenched in middle age, not only are my peers’ parents passing. Also some of my peers have passed. In my view, they were too young to go.
You run the family enterprise. Some knowledge only possessed by you may accompany you to the grave? A few examples:
– private investments that may not be liquid
– unique business contacts (spheres of influence)
– specialized knowledge about methods of business which makes/made your enterprise succcessful
– your air mileage and other loyalty points and access
– your social media sign on credentials
– the safety deposit box key
– seasons tickets to your favourite sports team
– philanthropic commitments
– your social and business calendar
Have you prepared your executor(s) and/or heirs for your passing? One can never be too ready.
Best practice: assemble the important information for you into one private place. Update this information periodically and regularly.
Let someone know that you have done this and share the information.
Learn, think, apply!
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