Confident woman

How a LifeBook can prepare you for twists and turns

July 21, 2021

How a LifeBook can prepare you for twists and turns

4 Minute Read

The pandemic has caused many people to reflect about their personal affairs. A LifeBook can help you feel confident that your family will be looked after.

Tracy Noullett
Tracy Noullett, CPA, CA

Has the pandemic been a worrisome wake-up call, reminding you that you need to organize your affairs and provide for your family and finances – just in case?

You may be checking out websites and firms for help with updating legal documents, succession or estate planning, or organizing other aspects of your personal and business financial affairs. The more you explore, sometimes the more confusing it seems.

Thinking through all the “what ifs,” deciding what is and isn’t necessary, determining how to organize all of this information and documents – many people simply throw up their hands and postpone because it’s just too tough. Or, feeling nervous or time-pressured, they rush through the process, without considering the impact of decisions on their life, those of their loved ones or their legacy.

If you own a business, you may be so focused on surviving the challenging pandemic economic environment, there’s been little time to think about what would happen to your business if something should happen to you.

You may have organized all of these issues, but years ago, and need to revisit them to ensure they address your current circumstances.

These are all situations where you could use an experienced and objective guiding hand to answer your questions and help you prioritize and organize your personal, family, and business financial matters.

This is what LifeBook does. Rather than approaching decisions in a fast, random way that may not achieve what you want, LifeBook enables you to get ahead of problems and take control of your financial situation.

LifeBook effectively combines an efficient process customized to your needs with guidance by an experienced advisor who assists at a pace attuned to your comfort level. The end result is your own personalized LifeBook — a digital document containing all of your important plans, documents, and directions that would be needed should “what if” happen. You can even authorize specified people to store your LifeBook with instructions regarding the circumstances in which to share all or parts of it with your designated decision makers.

LifeBook provides peace of mind that your financial and personal affairs are organized, and the right strategies and documents are in place to meet your goals and wishes.

The process of creating your LifeBook is comfortable, easy, and reassuring. Your LifeBook advisor meets with you to discuss “what if” possibilities, that is, if something happened to you, does your executor or family know everything they need to know? Your advisor will work with you to answer this question by learning your personal story, goals, priorities, and needs.

They’ll help you identify gaps and opportunities related to organizing your finances, assets, documents, and wishes for your yourself, your family and your business going forward. LifeBook also considers your risk management and transitions plans.

How prepared do you feel in this pandemic?

You’ve worked hard to develop a business and build assets. If something unexpected happens, wouldn’t it be reassuring not to have to worry about the wellbeing of your life’s work, and your family?

This is why a LifeBook is important for your life.

To start creating your LifeBook, contact Tracy Noullett, CPA, CA, Partner, Business Advisory Services, at 403.525.3336 or [email protected]


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