It is normal to see families going through disputes when a loved one is in a critical condition or their death bed. Therefore, preparations eliminate the potentials of family disagreements, confusion, and unnecessary financial pressure and this will give you peace of mind. A good plan will give your family and friends the gift of remembering you in the way that you would want them to.
An end of life plan is the basis for meaningful conversations with your loved ones and advisors on what your wishes and medical decisions are. A necessary end of life plan involves issues such as funeral arrangement, life support decisions, financial matters and extraordinary medical measures. Include your decision on whether the doctor should put your life support for an extended period or resort to dangerous procedures. Making this decision will save your loved ones the guilt and emotional stress of choosing whether to put your life in danger or put you on life support.
It is also a smart idea to appoint a health care proxy who will make important decisions and speak on your behalf. Also, if you have strong beliefs, it is important to explain in writing how your body should be handled plus whether it should be cremated or buried to ensure that your final wishes are met. A right end of life plan will guide your loved ones on preparations for your burial.
It is essential that you talk to your physician and inquire more about your illness to help you make informed decision. Also consult with your lawyer to determine the best way to transfer property and authority.
Losing a loved one is a painful experience and the financial advisor will make sure that he eliminates the tax burden on your loved ones and also cover expenses. He should also assist you to develop sound decisions on investments, insurance, retirement planning, and estate planning. The financial advisor can keep you and your family safe by implementing strategies such as disability insurance, long-term care, home insurance, living trust and life insurance. Read Dave Ramsey Legacy Journey here!
Things like taxes, health, age, and final wishes keep changing and it is therefore important that you update your end of life plan at least after every two years. 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. Know the Legacy Journey here!