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Let me start out by apologizing for the morbid topic. Nobody likes to think about their own death. However, to help your family deal with the tragedy, it’s imperative to document your wishes. The last thing you want is your family to struggle with difficult decisions during your last days, or to try to make guesses regarding what arrangements you want. Worse still, would be for the government to get a grasp of your possessions you had every intention of leaving to your heirs, if only you had gotten around to writing it out.
Document Your Last Will and Testament
You’ll want to ensure you create a will to stipulate how you want your assets distributed. If your children are under age, you’ll also want to designate guardians. As you lay out your will, be certain to cover all of your assets, including retirement savings and other investments, real estate, and business holdings, as required. Additionally, if you would like a portion of your estate donated to charity, be certain to document it in your will.
Write a Living Will
In addition to your will, it has become increasingly beneficial to draft a living will. This document specifies what amount of medical treatment you want to receive if you become terminally ill or cannot communicate. You should also designate someone as your healthcare proxy to ensure your wishes are granted and not left to interpretation by others.
Communicate with Your Family
Even after you’ve clearly documented your wishes, take the time to communicate them with your family. This will likely be the most difficult part, but it’s necessary to ensure your desires are known and all relevant parties are aware of your assets. In addition to your spouse, speak with your children if they’re grown and your siblings.
