Anticipation

No, not the Carly Simon song from 1971. Instead, the idea expressed by Merriam Webster

Definition of anticipation

1 a: a prior action that takes into account or forestalls a later action
b
: the act of looking forward especially : pleasurable expectation
2: the use of money before it is available
3 a: visualization of a future event or state

   b: an object or form that anticipates a later type
4: the early sounding of one or more tones of a succeeding chord to form a temporary dissonance

I have been trying to understand estate planning so it can be easily communicated to people who want to do it only once. It has been surprisingly difficult. The theme now is anticipation.

  • Anticipate your future spending.
  • Build a margin for error
  • Anticipate future income, taxes, and fees to offset spending
  • Anticipate assets and how they change. Downsizing, for example.
  • Anticipate the effects of the first death of a couple
  • Anticipate the quantity and nature of assets at second death
  • Anticipate costs, liabilities in the estate
  • Anticipate what your executor must do
  • Anticipate what your heirs will receive both in quantity and nature.
  • Anticipate how they will feel about that.

Pretty straightforward. A template for thinking makes the process easier.

Controlling the future

You cannot control the future, it is unknown and it will contain surprises. The key is to avoid as many surprises as you can. That is what anticipation is for.

You cannot control the future but you can influence parts of it if you anticipate carefully.

Think about cash flow models and pro forma probate.

I did not anticipate this.

A graphene jacket that will set me back more than C$1,000. There are innovative people out there.

Graphene Jacket


I help business owners, and professionals understand and manage risk and other financial issues. To help them achieve their goals, I use tax efficiencies and design advantages to acquire more efficient income and larger, more liquid estates.

Please be in touch if I can help you. don@moneyfyi.com 705-927-4770

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