While not a popular subject, each of us will come to the end of our life. The plans and provisions we have made for the inevitable will have a significant effect on our loved ones who are left behind. No one knows how long they will live or when they will die. Adhere to the Boy Scout motto of “Be Prepared”.
There are a number of plans or actions that need to be addressed before we take our final breath. Each person has to evaluate for himself or herself what their true wishes are for their final days, their assets and their legacy. It is advisable to consult an attorney who specializes in Estate Planning and Wills to assist you with making sure you understand and make provision for all contingencies in your state of residence.
Depending on the size of the estate, you might also need the services of a CPA or Tax Attorney to protect your estate from unnecessary taxes. Proper planning can eliminate a lot of hardship and heartache for those you love who are already burdened by your passing.
Thoughtful consideration should be given to:
- The Loved ones left behind. How will they manage?
- Living Will or Advanced Directive
- Wills, Trusts and Estate Planning
- Choice of Executor
- Tax Consequences
- Funeral or Memorial Planning
- Central repository of documents
- Final Wishes