Disaster Preparedness ~ What Would It Take?

This summer brought a number of disasters from the Burro Fire in the Santa Catalina Mountains east of Tucson to the Tonto National Forest wildfires, and most recently the devastating hurricanes in Texas, Florida, and Puerto Rico and earthquakes in Mexico. It’s made us take a step back and ask ourselves, “What would you take with you in case of disaster?” Many times evacuations take place in what feels like a moment’s notice – days, hours, or even minutes depending on how a fire or storm moves toward the neighborhood – and you’re forced to decide what is most important. Preparation before evacuation is key to getting you to safety and preserving what matters most to you.

Family, Friends, and Pets

When I think of what I would take from my home at a moment’s notice, it’s always my family, friends, and pets. The kids have backpacks from school or summer trips that are filled with a bottle of water, snacks, electronic devices, and maybe even a change of clothes. The dog sleeps in a kennel and his food and water are easy to reach and pack in the car. For the adults, we would grab each other, kids, pets, purses, wallets, and medication, and make our way to safety.

Bug Out Bag

With a bit more lead time you can pack what is called a Bug Out or Go Bag filled with essentials including dust mask, batteries, flashlights, drinking water, filtration system, snacks, pet kennel and food, shoes, socks, clothing, phone and device chargers, laptop, and sleeping bag.

• Plan one gallon of water per person and/or pet.
• Three days of easy to prepare foods like canned goods, granola and dried fruit, and protein bars.
• First aid kit and medication.
• Hygiene products including toothbrushes, toothpaste, and toilet paper.
• Duct tape – it can solve a whole myriad of problems.

For families with children, you can also have a lanyard prepared for each member of the family with a picture of the family, contact information of the parents, and the name and phone number of an out of state relative.  If family members get separated it is a way for others to help get them back together.

Based on what we’ve heard about evacuations, we know our pets may not be able to stay with us but if they can, they likely need to be in a kennel and/or on a leash. Everyone is scared so if you can grab the kennel, it will be a familiar space for your nervous furry friend.

If Disaster Strikes

Many victims of these disasters have lost everything. Homes, cars, clothing, and paperwork can be replaced, but you and your family cannot. Get your family to safety first. If you have the presence of mind as you’re leaving your home, grab the big red binder and USB card of trust and estate documents from Kinghorn Heritage as well as your Docubank card so doctors can access healthcare documents if needed. If you can’t bring the whole binder with you, at least pull out the important documents (e.g., birth and marriage certificates, passports, social security cards) behind the Location Lists tab. While it’s not everything you would need to rebuild, it is a good start.

It’s tough to say what we would take in case of disaster, which is why we recommend planning and preparing for the worst. It’s better to take too much and head for safety than be paralyzed by fear when you need to evacuate.

Sponsor of the Tucson SPOTLIGHT Senior Services & Living Options Guide.  

Connect with us today to learn more and say
"I saw you in SPOTLIGHT!" 

https://heritagelawaz.com/
(520) 529-4000

What Is The Cost Of Dying?

You’ve worked hard your whole life and are enjoying your retirement. Your financial planner and Tucson estate planning attorney have worked together to ensure you have living expenses covered by pensions and retirement investments, and when the time comes, you’re able to afford the cost of dying to pay medical and funeral expenses.

Cost of Dying and Cost of Living

Not surprising, the cost of dying in each state is in direct correlation to the cost of living. For example, Mississippi is the least expensive state in which to die at an average funeral cost of $5,166 versus the national median of $6,078. It should come as no surprise that Mississippi also has the lowest cost of living. [Source]

In Arizona, the cost of living is just about 2% less than the national average, while healthcare is about 1% more and housing is 2.8% under the average. [Source]  The average out-of-pocket, end-of-life medical expenses are $11,618, while the average funeral expenses are $6,078. [Source] Without proper planning, these expenses can leave your family in debt, which makes it important to have an estate plan in place.

This is in contrast to the most expensive place to live and die – Hawaii. While it’s a beautiful state to visit, the cost of dying is the highest in the nation, nearly double our home state. Funeral costs are an average of $11,408 and the end-of-life care average is $21,807.

Whether you’re in Arizona, Hawaii, or another state, it’s important to plan ahead so your family isn’t left paying the debt with proceeds from the sale of your assets.

Impact on Financial and Estate Planning

There is currently a federal estate tax that applies to a relatively small amount of the population—those whose estate is valued over $5.49 million. When it comes to Arizona estate planning, there is no state estate tax or inheritance tax, which can potentially save your heirs thousands of dollars. We encourage you to speak to Kinghorn Heritage Law Group to understand how your assets can be protected and end‑of‑life expenses can be covered. In our meeting we will discuss:

• Your current estate plan. Often we meet with people who think they need to have millions of dollars in assets to establish a Trust, so they only have a Will. While a Will is better than no plan at all, a Trust will provide tools for estate preservation and asset protection as well as provisions for disabilities, an important need that often gets overlooked. In addition to a Trust, powers of attorney and living wills are essential parts of an estate plan.
• Your family. We want to create a plan that protects what is most important to you.
• Your wishes. It saves families stress when they understand their loved one’s wishes. If you want your grandson to have your antique golf clubs, then let’s make that part of your plan.

Whether it’s passing down family heirlooms or making sure you can afford the cost of dying, the Kinghorn Heritage team is here to help. Contact us today to schedule a complimentary consultation.

Sponsor of the SPOTLIGHT Senior Services & Living Options Resource Guide 

Visit us online today or call and say "I saw you in SPOTLIGHT!" 
https://heritagelawaz.com/