It can be difficult to face end-of-life planning but, if there is one thing that is absolutely certain in life, it is death. That means you will have to face it at some point, so you might as well do it on your own terms. These three tips can help you get your affairs in order so your wishes are carried out and your loved ones are taken care of.
Create a Legal Will
Having a valid will is an important first step. You want to make sure you have a will that is legally binding and, despite what you might see in movies, a note scribbled on a napkin may not be enough. Actual legal requirements vary between states, so it is a good idea to work with an estate planning attorney Queens NY to ensure you check all the necessary boxes.
Purchase Life Insurance
Life insurance can serve multiple purposes. It can serve to cover your final expenses so none has to worry about covering them unexpectedly. In many cases, it also provides income for remaining family members to maintain their current lifestyles or pay off debts. Talk to a financial advisor about the different types of life insurance policies that are available and choose one that fits your family’s needs.
Put Your Care Preferences in Writing
End-of-life care planning may be the most daunting part of the whole process. However, it is one of the most important ones. By preparing a living will and designating someone to act as your health care proxy, you ensure your final wishes will be carried out even if you can’t communicate them at the time. Be clear and spell out exactly what you want and exp[etc to be done with regards to your care. Using a tool like the Five Wishes document can be helpful.
Even if you don’t want to face it, responsible adults must plan for the inevitable. Working with experienced professionals can help streamline the process.