Women: Law & Money
The law says every adult American, male and female, must make his or her own personal, health care and financial decisions. But what if an injury or illness left you physically or mentally incapacitated? Who would make the important decisions for you? Would you rather your decisions be made by someone you have appointed through appropriate legal documents or by someone appointed for you by a court? The choice is yours, but legal planning in advance usually means less expense, more convenience and greater privacy for you and your loved ones.
Are you working with a financial advisor who is focused on your financial security? Or are you working with a financial salesperson who is focused on their financial security? Studies confirm that you are more likely to reach your financial goals if you are working with a competent financial advisor. Regardless, when it comes to investing your money, there are two fundamental concepts every woman should know: risk & reward and asset allocation.
In the process of nurturing and caring for her loved ones, every woman should take time to make sure she has addressed her fundamental Law Matters and Money Matters. This article has been a brief, general introduction to rather complex subjects. Competent professional advice should be sought.
A woman today may play a wide variety of roles during her lifetime. For example, while she may begin life as a daughter, she also may find herself cast as an aunt, a wife, a daughter-in-law, a friend, a mother, a grandmother or even a great-grandmother. And, more often than not, a woman will be cast as the primary nurturer and caregiver in most of her intra-family roles. It is within the context of such intra-family relationships that a woman may experience the Daughter Syndrome. In this brief article we will introduce the Daughter Syndrome and offer a few observations to help you survive it.
Commonly, the Daughter Syndrome begins when a woman helps rear her siblings and then, perhaps, her own children to adulthood. Thereafter, as her parents and in-laws age, she may find herself cast in the role of chauffer, shuttling them between medical appointments. Not long after that, she may find herself cast in the role of negotiator as she helps coordinate their long-term care requirements. Eventually, the dutiful daughter will similarly care for her husband until his death … and she is left as the last leaf of her generation on the family tree. Question: Who will be nurturer and the caregiver for this loyal and dutiful daughter?
The first step in surviving the Daughter Syndrome is to recognize when you are in it and to accept that you are not Superwoman. Do not try to do everything yourself. Look for assistance within your family; through your church, synagogue, or local support groups; and from the appropriate governmental agencies (e.g., meals-on-wheels programs).
The Bottom Line
If you follow the three steps outlined above, then you will be better prepared to survive the Daughter Syndrome. As a result, even if you are the last leaf on the tree, then you will have your legal and financial affairs in order. And that is critical, too, these days.
This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material.
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