Getting your affairs in order before you die is is a bit a morbid topic, but that doesn’t make it any less important. In fact it makes it that much more important. And it doesn’t matter what age you are to start planning ahead. The more you achieve the easier and more beneficial it can be to the loved ones you will be leaving behind. This could help them in so many ways and at an extremely difficult time when they are struggling to think clearly due to the emotions that are thrown up by bereavement. As such, we are here to assist you as much as possible. There is a lot to think about. A lot to take on board, make sense of and clarify. But don’t panic, don’t work yourself up, just read through the advice we have compiled and take some of the pressure off yourself.
Your Will
If you haven’t got a will it is time you addressed this. Your will is a legal document that specifies where your money and possessions will go after your death. It is your chance to have a say over your estate. It could be that you want to divide things equally between your children. It could be that you want specific things to go to specific people. It could be that you want some of your money to go to charity. Whatever it is, it is made a whole lot easier if you have a legally binding will. You may think it is a matter of common sense who gets what and the equal division of your assets, but the law rarely considers common sense in this aspect of life, and will end up deciding who gets what in the event of their not being clear directions. So make sure this is an immediate port of call.
But it is not just about belongings. There are always certain decisions that need to be made after death, and that is why you will need to specify who the executors of your will are. They are essentially guardians who will ensure everything is as you request, whether that is money, assets, property, funeral arrangements, legal complications; anything. We recommend you choose two executors, neither of whom should be beneficiaries and both of whom should live in the country. We recommend best friends, or your siblings, perhaps a lawyer or accountant (although the latter two will charge for their services). Your will should also specify who becomes the legal guardian of your children, if they are under the age of 18. This is perhaps the most important aspect. If you are organizing your own funeral then you will need to specify your wishes so that your family is aware. This includes your song choices and whether you wish to be cremated or buried. This includes the funeral directors you are using, some of them even let you plan your funeral before you pass away. You can also purchase your own headstone before you pass as well, this will save your family some of the costs. Take a look at granite headstones to see if there is one you like the look of.
If you already have a will, and you may well have one, then it is important you check it every month and make sure it is up to date. It may be that you have had another child, it could be your bought or sold a property. The most constant thing about life is the change, so it is important you renew it to account for any changes, and make sure they are legally binding.
Once this is done, make sure your executors know where your will is. If your will can’t be located then your wishes cannot be carried out, so it is imperative you let the executors know where it can be found.
Your Paperwork
Let your executor, or executors, know exactly where they will be able to find your important bits of paperwork. Perhaps it is on your computer, or neatly filed in cabinets, or just stuffed into a drawer somewhere; this doesn’t matter, letting them know where does. Important documents are things like bank statements, mortgage information, deeds for your property, bills you haven’t paid, investments, bonds, birth certificates, marriage certificates, even your computer password could be handy. You’ll also need to have copies of any insurance policies you have, whether it was life insurance taken out with a big bank or health care insurance done with the people at floridamedicareadvantageplans.com All of this information will ensure life is made easier for those left behind. The other thing you could make a note of too is stuff like subscriptions that can be cancelled, direct debits, renewals, boiler checks, all of those little things.
Your Debts
This is not always easy to do, but if you can afford to pay-off any debts you may have accrued over your life then do all you can to achieve this. It could be your mortgage, it could be credit cards or student loans; whatever it is, try and pay them off. This will ensure things run a lot smoother for your executors and beneficiaries. The easier things are, the less delay there will be in executing your will and lower the costs incurred will be.
