What are some of the things you can do to make your passing easier on your family?
No one wants to die. It is sad to think that one-day you will be separated from your spouse and other loved ones by death. But, this is a reality that we all must face. Fortunately, there are certain things that you can do to make your passing easier on your family.
Relationships are built on communication and matters of death are no exception to the rule. You should tell your family what your end of life wishes are. Although they might be formalized in a will, often times these documents are not reviewed until after a funeral or other final send off.
Another important aspect of end of life planning is life insurance. Everyone should have life insurance no matter his or her situation. In order to obtain the appropriate amount of insurance you have to calculate how much you are worth. In other words, how much would it cost to replace you? Answering questions like how much do you make, what services do you provide, how much will it cost to get someone else to do what you do should help you with this. You also want to think how much your mortgage and other long-term obligations are so that you can plan to cover these as well. Once you have gotten life insurance, you should let your spouse and other family members in on the details such as the insurance carrier, the terms and amount you are insured for.
One of the best things you can do to make your passing easier on the ones you leave behind is create an estate plan. Wills and trusts are widely used by people in a variety of situations to give instructions about how their assets should be distributed and used after their death. But, don’t do it yourself. It is best to seek out the representation of an experienced estate planning lawyer to get the job done right.
The California estate planners at OC Wills & Trust Attorneys can counsel you as to the best way to handle your end of life affairs. Contact us for a consultation by calling (949) 288-3598 today.