Estate Planning Helps Arizona Families
Death is an uncomfortable topic, one many would rather avoid as long as possible. However, failing to make preparations for yourself puts a great deal of trouble on your family during an already incredibly painful time. This situation will arise, and those you love will need to deal with it.
You have the opportunity now to make it as easy and smooth for them as possible. The Daily Courier recently published an overview of some of the more simple ways to prepare.
Estate Planning in a Nutshell
One important thing that needs to be done is getting important papers where they need to go. Things like social security cards, bank records, family contact information, military records, and other legal documents should be stored in a single safe place that a trusted person in your life knows about and can access.
Also included in this location should be information on a trusted lawyer, any life insurance policies, titles and deeds to property, information on pre-planned funeral arrangements, safe deposit box keys, and any bills that will need to be paid or canceled. In more recent years, passwords to electronic devices, as well as to online banking and bill-pay accounts, are becoming more important to have included.
Take stock of things you own that family members would like to have. Listen to what they express interest in, and if needed, ask individuals about things they like. Keep a physical list of where items should go, preferably with the other important paperwork. If you have a hobby, such as painting or crafting, identify possible homes for your pieces that may not be of interest to family. This ensures they will be appreciated by others who enjoy your hobby, rather than lost in clutter or trash.
You can actually make arrangements with funeral homes in advance. Check a few local options to ensure the care and pricing you want, and work with them to ensure that your family is not strained with making decisions that may not reflect your wishes. Paying for the services in advance also ensures that your funeral will not be impacted by possible future price increases.
Another important area to consider is your care in a medical emergency or the final stage of life. Identify a trusted person in your life who is willing to take on the responsibility and establish a power of attorney arrangement for them. This enables them to make medical decisions, pay medical bills, as well as access medical information and your doctor on your behalf. Creating a plan for your care in certain circumstances and ensuring that your family knows about it, including your preferred organ donor status, may also save a great deal of concern and headache.
Every individual situation is different. These are rough guidelines and will get you started on protecting your family after you are gone, but you will need to speak to a professional to establish details specific to yourself and ensure those details are handled in a proper legal manner. Contact us today to discuss options for estate planning and any related legal concerns.