Strategies for Creating an End of Life Plan
A lot of families disagree when it comes to death of a loved on matters involving division of property, power of attorney and important medical decisions. An end of life planning is important to help you make informed decisions ahead of time to make sure that your loved ones can easily handle all your financial affairs. Your family will definitely thank you for sacrificing your time to write down an end of life plan by celebrating your legacy and memories of your life.
Firstly, end of life planning will ensure that you are in charge of your medical decisions when you are mentally incapable and you cannot communicate. You need to familiarize yourself with the few issues that are relevant when writing your end of life plan including funeral arrangements, organ donation and life support decisions. It is crucial that you spell out your decision of whether you should be put on life support or undergo procedures which might be risky for your health. This is always a hard decision for a loved one to make and by you writing a plan ahead, it will be easy for the doctor to make the right decision.
On the other hand, you can choose to use a health proxy which is a document used to appoint an agent to make decisions on your behalf in the events when you are not able to talk. Give the directions of how your body should be handled to remove any guesswork. A right end of life plan will guide your loved ones on preparations for your burial.
The Beginner’s Guide to Tips
Before making any critical decisions, consult with your doctor to get valuable information about extraordinary medical measures and life support. Also consult with your lawyer to determine the best way to transfer property and authority.
A Simple Plan: Services
A financial advisor will protect you and your loved ones by implementing strategies to eliminate or reduce tax burdens as well as guide you on the best financial plans. The financial advisor should guide you in making the correct decisions concerning your investments, college planning, retirement planning and estate planning. The vital role of a financial advisor is to focus on developing a financial plan for best interest of your family and protect them against unexpected emotional or financial calamities through policies like life insurance, living trusts, long-term insurance and disability insurance.
Continue to review and revise your financial affairs regularly to reflect on any important issues that need to be changed, removed or added. Inform people that you trust what your end of life plans are but maintain privacy on crucial information. Entrusting the end of life plan with a few loved ones will help ensure that someone will be out there to oversee that everything goes as planned.