The climax of the Tom Hanks’ movie “Captain Phillips” is the moment when a naval commander gives an order to his snipers…….“execute”. Execute is a powerful word and an even more powerful concept. The word execute is important in law because that’s what happens when legal documents are signed. A Will or Trust is not just signed, it is executed. An executor is named to carry out the terms of a Will.
Execute is to complete, carry out, give effect or put into force. For a Will, that’s not just signing it; there must be witnesses and the document must have all the required elements. Execution is important. In business it means getting things done. In sports it means doing what you’ve practiced and trained. You can have the best planning and strategy for something but it must be executed, completed; otherwise it doesn’t matter.
Financial planning and estate planning must always conclude with execution of a plan or else it’s no good. Execution is critical. It means achieving the goals you’ve set. Goals, plans, intentions, aspirations are all well and good but execution is key. Execute your estate planning war chest and anything else in life you want done. Don’t just think about it, do it.