This is the time of year when folks are trying to find the perfect gifts for their loved ones and are also thinking about their New Year’s Resolutions. Wouldn’t it be great if these could be combined into one? An old Saturday Night Live fake commercial about a wonder product that was both a dessert topping and a floor wax comes to mind. As absurd as that idea is, it does show that people like multi-purpose products. Think about the popularity of the Swiss Army knife for example.

Our idea for a multi-purpose holiday gift is to get your personal legal and financial readiness in order just in case. Think of it as “Peace of Mind Planning” as a reminder that an estate plan does not have to be depressingly gloomy and dwell on disability and death, but rather can be a real gift to your loved ones in case something unfortunate happens. Your gift helps them at the most difficult times in life and, trust me on this from personal experience, it is very much appreciated then as your loved ones can focus on what’s important and not on what wasn’t done. This is not the time for the “woulda, coulda, shoulda” conversation.

Imagine the surprise that you can spring on your loved ones this holiday season and into the New Year with this gift. Admittedly, it will likely not go over as well as a large TV, gaming system, or new car with a giant bow on it, but you can emphasize that it is a gift from the heart and could be priceless if and when needed.

If I have convinced you to think along these lines, the next question is how to start. We strongly urge you to NOT go about this in a do-it-yourself fashion. DIY projects are fine for many things but in estate planning, there is rarely the opportunity for a “mulligan” if you don’t get it right the first time. A fix for a mistake is not as simple as going back to the hardware store or calling in the pros. It is generally too late at that point.

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