The Little Book of Bulletproof Investing: Do's and Don'ts to Protect Your Financial Life

Chapter 13. The End Game: "If Something Cannot Go on Forever, It Will Stop"

At some point, we will all have to pack our bags and enter immortality. There are some definite do's and don'ts to leaving things in good order for those you love and are leaving behind.

We know what you're thinking: Who cares if I leave a huge mess? Not my problem! Okay, but consider this: You're lying immobilized on a table. All it would take is some simple medical procedure to revive you. Meanwhile, an unscrupulous doctor is thinking, "That liver. Those kidneys. I could get rich selling them on the black market. It would be wrong, of course. Still, that new Porsche looks awfully tasty... ." Well, without giving a trusted person a durable medical power of attorney, who will stop him from harvesting your organs for his bank account?

A Will and a Way

Do have a will. Contrary to popular superstition, not having a will does not prevent you from dying. While this might seem like a clever way to trick God into letting you live forever, He sees through the gambit and is not deterred from sending His coachman at the appointed hour. True, not everyone needs a will. If you are a derelict living on the streets with no possessions and no known relations, there is no need to call your attorney for an appointment.

Otherwise, if you have a pulse, you need to do some estate planning. Get a referral to an attorney who specializes in this area from one of your friends who is more responsible than you are. That lawyer who fixed ...