We're getting old

Last week, we went to Great Lakes Naval Base and visited the JAG. No, I am not being sued or going to court for some infraction of the law (although that might be more interesting and give me street cred). We went to the base to draft a last will and testament, a living will, a durable power of attorney, and designation of healthcare surrogate. I never knew that there were really four documents that are part of this solemn package, but there we were, talking about the fact that we don't want to be administered food, water, or life support if reduced to a vegetative state. This, in itself, is a tremendous downer-to make decisions about what you want if you become terminally ill or die. But we realized unless we wanted some kind of Jerry-Springer worthy drama when we die where Gillian might become a pawn for cash, we needed to get on it. So, we did. Most importantly, we named her guardians if something should happen to us, and we set up a trust of our assets for her in the event that we die (so, whoever gets custody doesn't get her money, not that we're worried about Bill and Suzi going to Vegas on us, but still...). Clearly, as we build wealth throughout our lives, our financial plan will change, and we will do more to tax shelter our worth (if you really read about the amount of your money the good ol' government takes from your family at your death beyond the current exemption, you will likely get steamed-since they have already taxed that money when you made it and before you invested it; but..with a good estate planner, you can be clever about protecting your assets).

Anyhoo, we had a lot to think about. Who should be G's trustees? Who do we really trust to manage her inheritence until she receives it? The guardianship was a no-brainer, thankfully. What do we want in the event that we are terminally ill? How hard should our family try to save us or just keep us alive? Not only do you designate the Power of Attorney, Healthcare Surrogate, guardians, and trustees, but you have to designate alternates. Folks, the pickins are slim on alternates. These are heavy choices.

Monday we go back to sign in front of two witnesses to make the whole thing official. I am considering a safe deposit box for these important papers and our financial documents as well. Just to make sure everything is in the same place.

I just don't know when the most important decision of the day went from what kind of beer to drink with our pizza to who should decide to remove our feeding tube. Somewhere before the baby and after the first house and marriage, I think. Not that the beer question isn't an important one. We are just getting old.