The U.S. Constitution, Article II, Section 3, commands the President of the United States as follows:
“He shall from time to time give to Congress information of the State of the Union and recommend to their Consideration such measures as he shall judge necessary and expedient.”
This week, President Obama communicated his State of the Union Address to Congress and to the American people. This speech is traditionally given in late January and has been given as a speech since the presidency of Woodrow Wilson. The speech consists of a report on the condition of the nation, which is where we derive the name of the speech – the State of the Union Address. The speech also historically consists of an outline to Congress (and the American people) of the legislative agenda and national priorities.
Just as we wish to know the condition of our nation periodically, it is important to review, update, and maintain the condition of your estate. Hence you should periodically address the State of your Estate.
One of the important aspects to planning is to review it periodically to maintain and update it based on one’s goals. Typically, in my practice, I will have at a minimum Annual Reviews at the client’s discretion. These are very important. We do not want years to go by and the planning to become outdated and ineffective. Of course, any time there is a need for a review, we will accommodate and make that a priority.
The Bible speaks of periodic maintenance. Romans 12:2 KJV says “And be not conformed to this world: but be ye transformed by the renewing of your mind, that ye may prove what is that good, and acceptable, and perfect, will of God.”
I believe the key word is “renewing”. Renew means to make new or as if new again, to restore, to replenish, or to repeat as to reaffirm. By adding “-ing” to the word emphasizes a continual state of making new again.
The verse says that we need to keep renewing our mind. Our mind contains thoughts and ideas which are the steering wheel of our life. In a previous article, I addressed the question of what is included in one’s estate. In that article, I explained that one’s estate is much more than checking, savings, real estate, and retirement accounts. It includes one’s thoughts, one’s time, and even one’s health.
By continually renewing one’s mind, we are therefore having periodic reviews and regular maintenance of one of our greatest assets – our mind. This leads to a lot of other successes in the rest of our estate.
Instead of reviewing and renewing one’s mind once a year, we need to do it daily. This is a requirement for a good life generally, but in terms of Estate Planning, it is also one of the key beginning points as well as points of progress throughout the journey.
If it has been a while since you examined the State of your Estate, get started today. Don’t be overwhelmed but do a little at a time. You will make progress one step at a time. But be sure to continually make progress. Periodically review and maintain. Daily renew your mind. If you do this, you will be able to report to yourself an excellent state of affairs and you will be proud of yourself and your Estate.
BASED ON FAITH.