MADISON — In Matthew 25, we hear the parable of three men who are given talents by their master and what each does with the talents that are entrusted to them.
It’s a familiar reading and the lesson is that when we are blessed, it is pleasing to God for us to use our gifts and resources prudently.
This teaching is relevant today as we seek to help provide for ourselves and for our families in the future and support organizations that we care about, such as charities or the Church.
Most of us would like to use our gifts and resources wisely both now and after we have passed away, but complexities in the economy and tax laws can hinder our good intentions.
Given these issues, it is important to be informed of what challenges lie ahead and what options are available to proactively meet these challenges and plan for our future.
Tips for planning
There is no time like today to start planning for tomorrow. Many families would like to develop their plans, but are not sure where to start. We have a few tips to help.
- First, list the goals that are important to you and your family. Describe how you would like the future of your family to be, both while you are still alive and afterward. Consider if there are people and organizations that you support now. Will you want to continue that support in the future? Are there children or grandchildren or charities that you want to do something for? How do you want your retirement to be and will it still be able to be that way if you can no longer take care of yourself in your home?
- Second, take opportunities to educate yourself about the issues your family may encounter in the future.
- Third, contact knowledgeable professionals who will listen to your goals and who share your values in determining what planning is needed to protect your assets and avoid pitfalls.
Educational program
Andrew Forecki and Dan Purtell will host the “Plan Your Legacy” educational program on Wednesday, Nov. 9, at 6:30 p.m. at the Bishop O’Connor Center to raise awareness of areas in which planning is important, especially for estate planning.
Andrew Forecki is a field agent with the Knights of Columbus, the world’s largest Catholic family fraternal organization. Dan Purtell is a partner at Wilson Law Group, a Madison law firm specializing in Estate Planning and Business Succession Planning.