Wednesday, August 6, 2008

HTG3 meeting in Canada

I am up in Vancouver in the nation north of us to meet with the folks in HTG3. This group has been together a while, and has some unique attributes, but the thing they really get is how to have community. They connect regularly - almost hourly it seems - and work on life together. It makes me smile to see it in action - the power of peer groups in action.

Their assignment for this meeting, among the regular stuff, is to prepare their personal disaster recovery plan. What happens when something happens to them. I have had a lot of interaction with the group as they try to prepare for this meeting. No one wants to think through the things that can happen. Death is the obvious one, but what about an extended illness, even a short term illness or what some fear most, a permanent disability. Do you have a plan to address all those things.

You need to evaluate it in several different ways. First the impact any of those events might have on your family. But what about your business - and if it is not you who has the event occur - what if it is your partner or key employee? Do you have a plan for your business too? I have been facing the reality that I need to get this lined up for my parents who are in their 80's. As an executor, I will be dealing with their estate and honestly am not informed nearly enough. So it makes a lot of sense to spend some time getting the info now while I can get it easily rather than wait til something occurs and then try and figure it out on my own. Sort of like asking directions when I am driving - I never do that even when I am hopelessly lost. But when it comes to personal planning - the stakes are a lot higher than a few wasted gallons of gas and some lost time.

So this exercise is important, and while it has been extremely challenging for some, who seem to think they are immortal, I guarantee than everyone who prepares will have that plan executed at some point in the future. It will happen - I can't tell you when - but I can tell you without a doubt it will happen! So don't be like the shoe cobbler - do what you tell your clients to do and get a plan for your future!

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