ROCHESTER, N.Y. – “In this world nothing can be said to be certain except death and taxes,” said Benjamin Franklin. Unfortunately, we can’t dodge either of them, so we need to plan for them.

Today’s Consumer Alert is a tough one, but so important. News10NBC’s Deanna Dewberry talked to personal finance expert Jarrett Felton, CEO of Invessent, who says everyone plans to live, but no one plans to die. However, he says everyone, no matter your age, needs to have four documents in your file cabinet.

Firstly, you need a will that not only divides your assets but also names a guardian for your children. You need a power of attorney which names a person or institution to take care of financial matters if and when you can’t. You need a living will that outlines your treatment preferences if you become terminally ill and can’t make your own decisions. And a healthcare proxy designates someone to make medical decisions for you if you can’t.

“It’s a selfless decision that you’re making and actions that you’re taking to make sure that those that are left behind, those that depended on you, those that you raised loved, cherished and adored don’t have to think about in the event that you pass or when you pass away,” said Jarrett Felton.

Deanna Dewberry, News10NBC: “What do you say to the young person who says listen, I’m in my twenties I don’t have anything. I don’t need a will, you say what to that?”

Jarrett Felton: “I know in my own family I was the first to get a will and get all those other documents done in my twenties. But that’s only because my mother passed away of breast cancer at 53 years old and I was 22. If she hadn’t passed away, I don’t know that I would have thought about even being in this business… It’s good habits that you’re starting right now for when you get down the road. You don’t look back at 35 or 40 and say, how did I get here. I wish I would have done certain things differently,” Felton said.

Felton says it’s best to get the help of a lawyer or financial advisor. But there are several online tools if you want to go DIY. It’s important to note New York requires your will to be a printed document, it can’t be digital. And it doesn’t have to be notarized, but it must be signed in front of two witnesses, and your witnesses must sign your will in front of you.

Dewberry’s mother not only had a will, but she also planned her funeral service. It was one of the greatest gifts she gave her daughter, because it took the burden of those decisions off Dewberry’s shoulders. You need a will. Get it done. *A.I. assisted with the formatting of this story.

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