How We See It

Sherry Gibbon

Sherry Gibbon

Posted:
January 27, 2014

Getting Organized in 2014

Happy 2014! I don’t know what it is about the beginning of a new year but it seems to get us in the mood to organize and de-clutter.  If you notice the sale ads in the newspapers this time of year, there are a variety of storage containers and expandable file organizers that are available to choose from in different shapes, sizes and colors to meet your needs.  So, while you are taking the time to get your home organized, why not take the time to get your financial affairs in order, as well?

In their 2013 Lunch-n-Learn session, “Financial Checkup,” Texas Bank and Trust Senior Vice President/Assistant Trust Manager Craig Chaikin and Senior Vice President/Senior Operations Manager Maurita Myers offered timely advice in organizing your financial information:

  • Draft or Update your Will
  • Draft a Living Will
  • Create a Durable Power of Attorney for Health Care
  • Create a Durable Power of Attorney for Financial Affairs
  • Create a Letter of Instructions (This document should spell out your burial instructions, people to contact, the location of important legal documents, how to dispose of items not listed in the Will and even personal notes to family members.)
  • Simplify your banking (set up direct deposits, pay bills on line or by draft and sign up for e-statements)
  • Review your account ownerships and update signature cards if necessary
  • Shred any outdated financial information

With all the changes that life brings, it is important to review your financial plan regularly to make sure your plans keep up with those changes. The recommendations noted above will help ensure that your assets are distributed as you intend. To download the Financial Checkup Checklist visit the OMNI web page located at www.texasbankandtrust.com.

 

 
 
 
 

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