There is no perfect way to make someone fully prepare for death, especially your family, but you can implement certain steps to make it easy for your family to go through. Here are some ways you can try.
- Keep a will ready
This may appall your family. Eventually, planning for death means you have to acknowledge that death may knock the door anytime. But, everyone should keep a will ready. You need to convince your family that if you don’t have a will, then the government will decide who gets your assets, and in case if you have little kids, who will take care of them as well. This declaration is a complex process and may take more time if you don’t have a will ready. You can also preplan your funeral by hiring a funeral director. They can help you customize your funeral according to your say. For instance, if you want Columbarium Marble Plaque, they’ll keep it ready for you.
- Purchase life insurance
If your family relies on you for providing financial support, life insurance is a way to ensure that your family is looked after your death. Additionally, life insurance also helps in paying off the debts and handling the future costs like college or wedding. In a nutshell, it can help you have some peace of mind for your family.
- Have a look at your beneficiaries
Ensure that your IRAs, 401s and life insurance bears correct beneficiaries or the person or people you want to receive the money after you die. The beneficiary documents tend to supersede the wills and divorce decrees. This is vital when it comes to divorce, when your ex spouse is listed as a beneficiary.
- Keep all your documents ready
It is common for people to have their will, bank information, and life insurance kept safe in different places. Ensure that every documentation is at one place and can be easily accessed by a living spouse or a family member. That person may also need to use the bank accounts in order to pay for the funeral arrangements or other necessities. You can also include your SSN, proof of purchase of major assets, tax returns, retirement accounts, legal forms for deeds, rental agreements, and other important passwords.
- Go through your personal possessions
People often bear some sentimental things with them that others may not be aware of. You need to keep these items and record them why they are important. Also add who should inherit which items.