Thinking about the end of your life is something we never want to do. We’re all already occupied with matters of our lives, why would we think about what happens next, and why does it even matter? Whether you acknowledge it or not, end-of-life planning is important.
Death is inevitable. If there’s anything we’re a hundred percent sure of, it is that we will all die. Therefore, planning for your death makes things easier for your loved ones – friends and family – when they are grieving and going through tough times mourning your loss.
Planning for your death doesn’t have to be a big deal. On the contrary, you can invest a few hours in making smart preparations so that your family won’t go through hurdles when you’re no longer with them.
Here are some things to plan:
1. Prepare a will
If you’re someone who owns assets, properties, stocks, or have money kept somewhere, you must prepare a will to clarify how you want your money to be distributed. Even if you have things of sentimental value such as watches, you must put them into consideration too.
That’s because there are things that have a huge emotional value to your family members, and disputes might occur because of them. Someone who loves you would want to wear your favorite watch. So, if you wish for peace after you’re gone it’s important that you clearly state who gets what.
This Will you prepared will go to a court called “probate court”, this court will properly distribute your assets. Even if you haven’t written a Will, the probate court will distribute your assets depending on the law in your state.
Since this process is critical and must be handled professionally, the law firm your family chooses to handle the probate court documents and processes must be chosen wisely.
“None of us wants to think about the end of our lives, and we certainly don’t want to discuss such a sensitive topic with our loved ones,” says Florida Probate Law Firm, a team of probate lawyers in Fort Lauderdale. “However, it’s important to handle the financial, practical, and emotional matters during your senior years to ensure your loved ones don’t struggle.
2. Plan for your funeral and subscribe to a life insurance
The people who love you will already go through a hard time grieving your loss, imagine adding the pressure of funeral preparations – in addition to the financial baggage that comes with it. Preparing a funeral on your terms also ensures that your funeral reflects who you are and eases the pressure from your loved ones.
Another perk of preparing your funeral beforehand is that you’re going to freeze the price of the funeral currently which will save your family money, in addition to ensuring that the funeral is on your terms. Pick a plan provider that will allow you to prepare and prepay for your funeral, even if you’re not even at an old age.
Something else that you can do is to subscribe to a life insurance plan that gives out some cash when it’s your time to go. This cash will benefit your family a lot, especially if you haven’t fully paid your debts, or still have mortgage payments.
3. Prepare your legacy
Legacy doesn’t solely refer to leaving millions of dollars behind for your loved ones. On the contrary, a legacy is more emotional than financial. Every one of us wants to be remembered when we’re gone. We don’t want our spark and personality to die with us. We want people to remember that making things easier for them is part of our personality, even when we leave.
Planning a legacy means that you sort things out from several aspects before you go. Plan your Will, make sure you have your funeral wishes known, and prepare for when you get ill by researching professional health care just in case your health starts to deteriorate and you don’t have the energy to do proper research.
Also, there are digital assets that we all have. These assets include your bank accounts, e-mail, social media accounts, and all the data on your phone. You don’t want all of this to go to waste when you’re gone. There are features on applications and on your phone that give your trusted ones access to your digital assets when you’re gone. All you have to do is to identify them when you’re still here, and the digital services will automatically give them access when you’re gone.