Last Tuesday, my car hesitated to start. It happened several times before I could get going. At first, I brushed it off because I was in a hurry to get my 6 a.m. yoga class. But when it happened again the next morning, I realized something was wrong.

Now, I’ll be honest. I don’t know a thing about cars. And have no interest, just get me from here to there…safely. So, I did what I always do: I took my car to the dealer, smiled, looked friendly, and said, “Help!”

I’ve learned over the years that going solo, a little wide-eyed and a lot clueless, sometimes gets me better service. A loaner car later, I headed out to start my day. A few hours later, my phone rang.

“Ma’am,” my service rep Edwin said, smiling through the phone, “Rats are eating your electrical wires.” “What?” was all I could manage to say. “Yeah. They’re chewing right through the wires to your starter. Happens a lot in the city. Rats love the stuff: soy-based insulation, warm engine bays, etc. It’s like a buffet for them.” Rats. In my engine? Who knew?

But as I hung up, a weird thought hit me. I had no idea what was happening under the hood of my car that I depend on daily. I could have been left stranded somewhere! I just assumed everything was fine.

But my car gave me warning signs. And even then, I guessed wrong. I suspected the battery or alternator. Not those rats! That’s when it hit me, how many other parts of our lives do we ignore until something won’t start?

Under Our Financial Hoods

We all have "engines" in our lives running quietly in the background, like beneficiaries on retirement accounts, life insurance policies, wills, trusts, power of attorney forms. These documents are set once, often during major life moments, and then… forgotten. But things change. Families change. Laws change. And our wishes change.

Still, we rarely "look under the hood" at these things until something goes wrong. And by then, just like my car, it might almost be too late!

I've heard horror stories: an ex-spouse is still listed as a beneficiary. A child unintentionally left out of a trust. A power of attorney form naming someone who’s no longer trusted or even alive! These issues can create legal nightmares and lots of family drama. And we don’t need that when we are grieving or under stress.

And just like the rats in my car engine, the problems under the hood of our lives aren't always obvious. They're silent. They’re creeping. And yet, they are surprisingly common.

Who Should Look Under Your Hood?

You don’t need to be a financial mechanic to check what’s going on. But you need to know who to ask:

1. Financial Advisor
   They walk through our investment accounts and help update beneficiary designations. Many of us assume our will controls everything, but beneficiaries on file override our will! If our 401(k) still has our college boyfriend listed, he’s getting the money!
2. Estate Planning Attorney
   If our will or trust is more than a few years old, it’s time for a check-up. These attorneys make sure our legal documents still reflect our wishes and the current laws of our state. They also help plan for things like disability or incapacity.
3. Insurance Agent
   If we have life insurance through work or a private policy, our agent can confirm who the payout goes to and help us make changes if needed. Again, what’s written on these forms supersedes everything else.
4. Human Resources
   Don’t forget the employer. Group life insurance, retirement plans, and health benefits may all need outdated information on file.

Here’s Our “Rat Check”

Don’t assume everything is still in good shape just because you haven’t heard a squeak.

Our goal this month is to check under our own hood:

1. Review beneficiaries on all financial accounts
2. Revisit your will, trust, and medical directives
3. Update our power of attorney forms
4. Make sure someone we trust knows where everything is

And if it feels overwhelming…and often it is, get help! That’s what the professionals are for. We don't need to know how to fix the wires, we need to make sure the professionals are looking at those wires!

Our Goal

That Tuesday morning, I thought I had a battery problem. Turns out, I had a rat problem. Often, we guess wrong, delay action, or miss the warning signs. But the cost of ignoring what’s under our hood—whether it’s our car or our finances is huge. Take action now! The “future-us” will be very grateful!

So…

1. Pop that hood.
2. Take a peek.
3. Get professional financial and legal help.
4. Make sure the wires of our life haven’t been quietly chewed through!