Making a plan for your death, while perhaps an uncomfortable subject, is a valuable endeavor. Not only is it a great way to express care for your loved ones, but it can go a long way in easing your own anxieties regarding the end of your life.
While it is common knowledge that a will is the key document regarding the end of someone’s life, it is not the only key item. There are a variety of important details to leave behind for your loved ones that go beyond the information contained in a will. We’ve compiled a helpful list to get you started:
1. Your Living Will – Also known as an advance healthcare directive, this document is your plan for how you want decisions regarding your long-term care to be made in the event of your incapacitation. Living wills are important because they offer guidance regarding key medical decisions, offer clarity and closure for your loved ones, help to prevent conflict among your family members, and lighten the emotional burden that your loved ones bear in the face of difficult circumstances.
2. Your Plan for Care of Dependents – If you have any dependents for whom you are responsible, then you definitely need to have a plan in place for them in the event of your death. Your dependents include any minor children, any adults who are in your legal care, and any pets—those who your death or incapacitation would leave hanging. When making your dependent care plan(s), it is best to work with an attorney in order to ensure that all of your bases are thoroughly covered.
3. Key Information – In the event of your death or incapacitation, you can make things much easier on your loved ones by leaving them an organized and thorough record of all of the key information they might need. A brief list of some of the key information that you should compile includes:
- Personal details
- Family details
- Important contacts
- Financial details
- Locations of important papers and documents
- Household information
- Tax, finance, and business information
- Logins and passwords for online accounts
- Social media account(s) information
Gathering all of these details is no small task, but doing so (and making sure to update them routinely) is an incredible gift for your loved ones.
4. Funeral, Interment, and Obituary Details – This is another area where making your wishes known in writing can be of immense value to your loved ones. If you have specific wishes regarding your funeral, interment, and/or obituary, you should be sure to make a written record to pass along upon your death.
5. Durable Powers of Attorney – Powers of attorney (POAs) are documents that authorize someone else to handle certain matters on your behalf. You might consider establish POAs in the areas of your finances, your medical care, and more.
As you can see, end-of-life planning is a complex and involved subject. Thorough preparation requires significant forethought and effort. It is never too soon to initiate your end-of-life planning process.
Though this article offers some helpful tips and starting points, the best way to create a thorough and effective end-of-life plan is to work with a professional who can guide you each and every step of the way. If you are ready to take this important planning step, reach out to the RBG professionals today. You can do so via our website’s Contact page or by emailing rbfco@rbfco.com. Be sure to request a copy of our free “Everything They Need to Know” digital planning guide.