Why Plan? Ask Gina

I recently met with small business owner Gina Donaldson over tea at Hillside Coffee and Tea to talk about what her business provides for the senior population here in Victoria. She helps individuals put together a binder of all their relevant information needed in the later years and for end of life.

 What is Personal Passage Planning?

Personal Passage Planning is a service that guides people in appreciating the importance of taking action to prepare for planned, the unexpected and of course death. Through this process of making sure everything is in place, my clients get the peace of mind of knowing that they can get on with life. It seems counter-intuitive however these conversations need to be had, it is just not everyone's family is comfortable with it.  For instance, the inspiration for my business was a neighbour who became a widow after her husbands short battle with cancer. Even as he was dying they clung harder to hope rather than deal with the inevitable. It was very hard for her to be in the fog of grief, deal with his estate and take over his role in the family administration. There was so much to do, she was confused and exhausted by having to repeat the details of her loss over and over again.

Why is it important for us to plan as we get older?

Planning is important at any age and should start at adulthood. After all, you are never too young to get injured or die. That said, it is important to get down to business as we age if you want to have more control over your future. You don't want to be any more of a victim of change than you have to be. Not only is it our responsibility not to be a burden to our children or executor, chances are our children have moved away, have busy jobs and may not be in a position to help when you need it. Besides that, the positive aspect is really about making the best of life for as long as you live. 

What are the risks involved with not having a plan?

There are so many risks and yet people tend to joke about them. Statements like “why should I care, I'll be dead or if I make plans then I will die”. Let's look at it from two perspectives to get a sense of it. Let's say you have an accident and are unable to return home for a few months. What happens to your pets, your bills and how does this impact your family? People in care have been evicted, had their belongings repossessed and have relied on things like Go Fund Me pages. Now let's say you can't return home unassisted or need to go into care for an extended period. What can you afford and where would you like to go? Otherwise, you will go to a public or even if it is a private facility with the first available bed and that could be anywhere with a very different population or level of privacy than you would be prepared to accept. If you want control over your life and want to protect your loved ones you need to plan. Other risks include family conflict over what you would have wanted, unscrupulous people looking to take advantage of your family financially or the inability for them to act in your best interest.

Can you give me an example of a situation you were involved with and how it turned out?

I can't be specific for confidentiality reasons so what I can share is how this has helped people who have already lost a spouse. They didn't want to burden their surviving children yet had only just touched the surface of what it means to close down the whole family estate. There was so much more that needed to be considered or done. Then their Life Log became more about the present and near future as a  life planning tool and enabled them to make adjustments to their financial plans, adapt to other changes in relationships when they found themselves with a new partner and generally look ahead with more confidence and optimism. They got rid of things that didn't matter anymore and focused on health and happiness.

What three things would you suggest people put in place right away as the most important things to have in place?

Always first and foremost is get that Will done and have a talk with your executor about your wishes. Also discuss with your lawyer why you need a Power of Attorney and Representation Agreement. These are the basics so I want to count them as one.

I would also sit down with a financial planner so that you understand your options for the future. Sometimes we actually have to learn how to spend after a lifetime of saving.

Look for all the records of who you are and what you own; at the very least bank accounts, holdings and your digital world.  No one should have to search your home or figure out your filing system.

Thank you, Gina for you time and valuable information. Planning is something we all put off, but at our own peril!

For more about planning for end of life, take a look at Gina’s website at www.personalpassageplanning.com.

For more of this type of information, feel free to email me to subscribe to my upcoming newsletter, at differentpath17@gmail.com. In this newsletter, I will be providing you with more information on downsizing, working with seniors, and planning for the future. If you work with seniors, this newsletter can help you increase your skills such as