Keep in mind, assets such as Retirement Accounts, Life Insurance, Annuities and Pension pass outside of a Will or trust, and follow the beneficiary designations listed on each asset.

For most of us, thinking about death isn’t pleasant, but it isn’t nearly as bad as thinking about being alive yet unable to make our own decisions. Illnesses and injuries do happen, and a Durable Power of Attorney authorizes another person to manage your financial affairs if you are incapacitated. Typically, people choose a spouse or child, while others appoint a trusted friend or business partner. It is vital to have this document in place since the need for it usually arises without warning. If you have not executed a Power of Attorney, a court will appoint someone to manage your financial decisions, and it may not be the person you would have chosen.

Many of us have strong views about what we would want in the event of a catastrophic illness or injury. Sometimes we disagree with even our closest family members about issues such as life support withdrawal, pain management and organ donation. This is why it is imperative to have a health care proxy. It allows you to write your wishes down, and to appoint someone you trust to make medical decisions for you if unforeseen circumstances arise. Without a health care proxy, there could be conflict among family members and perhaps court intervention.

Most of us focus on the here and now, but peace of mind comes with knowing you have planned for the future and taken care of those you love. At Riverview Capital Advisers, we help our clients build assets and live comfortably by thinking ahead.

Contributors: Paula Pienkowska is the Director of the Wealth Advisory Group at Riverview Capital Advisers. Alan Arcadipane is a Business Analyst of the Business Advisory Group at Riverview Capital Advisers. Peter Gnall is a Private Wealth Adviser of the Wealth Management Group at Riverview Capital Advisers. Melysa Latham is a member of the Business Advisory Group at Riverview Capital Advisers.