Many of our clients know that I was born and raised here in Arizona. While I love to joke about our 114-degree summers being a perk because it makes traffic a little lighter, my favorite part of living here has always been something much more important: being close to my family.
My grandparents have been a constant presence in my life for as long as I can remember, and I feel incredibly fortunate to have the relationship I do with them. That's why the last few weeks have been especially difficult for our family.
My grandparents had to urgently fly across the country to care for my great-aunt after my great-uncle suffered a serious fall that left him with a broken leg. He's now in the hospital beginning what will likely be a long—and, by all accounts, tediously slow—rehabilitation process before he can return home.
At the same time, my great-aunt is living with Alzheimer's disease. She's still the same kind, caring person she's always been, happily feeding the neighbor's cat and folding laundry at all hours of the day. But with her husband suddenly hospitalized, she wasn't able to navigate the situation on her own.
Thankfully, years earlier, my great-aunt and great-uncle made the decision to prepare for this exact kind of unexpected event. Having no children of their own, they named my grandmother as both their durable financial power of attorney and medical power of attorney after my great-aunt's Alzheimer's diagnosis.
None of us expected those documents to become essential on an ordinary Tuesday.
But they did.
Within hours, my grandparents had purchased one-way plane tickets with no idea how long they'd be gone. Instead of scrambling to figure out who could make medical decisions, access financial accounts, pay bills, or coordinate care, they were able to focus on what mattered most—being there for family.
It reminded me that some of the most valuable financial planning isn't about growing your wealth. It's about making sure the people you trust can step in when life doesn't go according to plan.
Most people think of estate planning as writing a will or deciding who inherits their assets. Those are certainly important, but some of the most valuable estate planning documents are the ones that take effect while you're still alive.
A medical power of attorney allows someone you trust to make healthcare decisions if you're unable to make them yourself. A durable financial power of attorney gives someone the legal authority to handle financial matters on your behalf, such as paying bills, managing bank accounts, communicating with financial institutions, or handling insurance and tax matters. The exact powers depend on how the document is drafted, but the goal is the same: ensuring someone you trust can help when you can't.
One of the biggest misconceptions is that your spouse or adult children can automatically step in if something happens to you. Unfortunately, that's not always the case. Without the proper legal documents, loved ones may face delays, additional expenses, or even court proceedings before they can act on your behalf.
These documents aren't just for retirees or those facing a medical diagnosis. Accidents, unexpected illnesses, or temporary incapacity can happen at any age. Having a plan in place isn't about expecting the worst, it's about making a difficult situation a little easier for the people you care about most.
If you've already completed your powers of attorney, consider this a reminder to review them every few years and make sure the people you've chosen are still the right fit. If you haven't created them yet, it's a conversation worth having.
We spend a lot of time talking about saving, investing, and preparing for retirement because those things matter. But sometimes the most important financial decisions aren't about building wealth, they're about protecting the life you've already built.
Hopefully you'll never need to use these documents.
But if an ordinary Tuesday suddenly turns into something unexpected, you'll be glad they're there.
Thank you for reading,
Chandler