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As Benjamin Franklin famously stated, “In this world, nothing is certain except death and taxes.” While taxes are unavoidable, death is an inevitable part of life that we must all face. Preparing for it is not only wise but necessary.
This guide focuses on practical steps to organize your estate and personal affairs, ensuring you don’t leave a burden for your loved ones. Inspired by a heartfelt comment from a regular reader, Left_, who recently lost a friend to the Chinese coronavirus, this list hits close to home during the ongoing pandemic. Our deepest condolences go out to him and all those affected.
10. Create a Last Will and Testament
A last will and testament is a crucial legal document that outlines how your assets will be distributed after your death. It also allows you to appoint a guardian for your children and name an executor to ensure your wishes are carried out. While it’s possible to draft one yourself, consulting legal professionals is highly recommended to ensure it’s done correctly.
While numerous online platforms provide services for creating wills, they may not suit everyone’s needs. If you have a retained attorney, they can assist you, but the complexity depends on your estate. For many, an online will suffices for basic property distribution. However, if you need to appoint a guardian or manage substantial assets, consulting a lawyer is advisable. Dying without a will means your state’s laws will dictate asset distribution, which may not reflect your intentions.
9. Develop a Comprehensive Master File for Your Family
A sudden loss becomes even more challenging when the deceased managed all household finances. Beyond grieving, families often struggle to manage bills and protect assets from repossession. A simple yet rarely implemented solution is creating a master file containing all financial details. Store it securely where your family can access it after your passing.
Given the sensitivity of this information, store it in a fireproof safe at home and consider a backup in a safety deposit box. Include details of all bills, accounts, assets, bank accounts, pensions, and other income sources. This ensures your loved ones aren’t left in financial distress. Provide both a printed version and a digital copy on a USB drive or SD card.
8. Clearly Communicate Your Funeral or Memorial Service Preferences
Although you can specify how you want your remains handled after death, it’s crucial to discuss and document these preferences with someone you trust. Most people focus on choosing between burial and cremation, but there are many more options. For instance, veterans should indicate whether they wish to be buried in a National Cemetery, which often includes a flag presentation by active service members in many countries.
If you prefer alternatives, such as a sky burial where ashes are launched into the upper atmosphere and scattered, make sure to communicate this clearly. Document your wishes, share them with your spouse or children, and eliminate any ambiguity to ensure your desires are honored.
7. Draft a Living Will and Appoint a Medical Power of Attorney
A living will addresses your medical care while you’re alive but incapacitated, unlike a last will and testament, which deals with your estate. This document outlines your preferences, such as whether to remain on life support after brain death or to discontinue treatment. These are tough decisions, so discussing them with loved ones before formalizing them is essential.
A living will is a legally binding document that requires professional handling. While online templates exist, its nature as an advanced directive for medical decisions necessitates proper legal execution. Additionally, appointing a medical power of attorney ensures someone can make healthcare decisions on your behalf without facing legal risks.
6. Remember to Plan for Your Pets
Many people have pets throughout their lives, and this doesn’t change as they age. While those who are ill or anticipate their passing often make arrangements for their pets, unexpected deaths leave animals vulnerable. What happens to your newly adopted puppy or the parrot you’ve raised since it hatched? Legally, pets are considered property, so without specific instructions in your will, they could face unfortunate outcomes.
The ideal solution is to establish a “pet trust” in your will. This legal tool ensures your pet’s care after your death. It allows you to appoint a caregiver (with their consent) and allocate funds for your pet’s needs. If you have pet insurance, which is highly recommended, include provisions to cover these costs for several years to avoid burdening others.
5. Organize Your Digital Legacy
Your online presence is a significant part of your life, encompassing everything from social media accounts to personal preferences. For many families, digital assets like photos and memories are invaluable. Stories of families struggling to access a deceased relative’s Google or Apple accounts highlight the importance of preparation. By planning ahead, you can ensure your loved ones have access to these cherished digital memories without unnecessary hassle.
Many companies offer solutions to ensure your family can access your accounts after your death. For example, Google allows you to specify who can access your data if you remain inactive for a set period. If you want your spouse or children to access your Google Photos after 90 days of inactivity, the system can automatically grant them access. Alternatively, sharing your login details is an option, but frequent password changes make this impractical.
4. Make a Decision About Organ Donation
Organ donation is often addressed when renewing your driver’s license or government ID, and for good reason. Healthcare professionals cannot assume consent, so they require legal permission to use your organs after death. While some may object due to moral or spiritual beliefs, rest assured that organs are never taken without explicit consent.
Organ donation offers various options beyond a simple “Yes” on a form. You can donate your body to science, allowing medical students to study it. This process involves additional steps, as private or government organizations handle such donations. It’s distinct from donating specific organs like a heart or kidney. Discuss these choices with your family, spiritual advisor, or doctor before deciding. Be aware that definitions of death may differ between your faith and the medical community, potentially leading to conflicts, as seen when Pope Benedict XVI revoked his organ donor status.
3. Keep Your Information Up to Date
The advice above is essential for anyone preparing for the inevitable, but outdated information renders it useless. While you hope to avoid an untimely death, procrastination isn’t an option. These steps are designed to prepare for the unpredictable, so revisit and update them regularly—yearly or even over decades—to ensure they remain relevant.
Your will might remain valid for years, but life changes, such as having more children or grandchildren, necessitate updates. Similarly, your master file should reflect current financial and account details. Outdated information, like a Blockbuster Video account, won’t help anyone. Set a reminder to review and revise your final messages every year or two to keep them meaningful.
2. Write a Final Message for Your Loved Ones
While some believe in communicating with the deceased, the only certainty is leaving a message while you’re alive. This is your chance to say goodbye, something those with terminal illnesses often have time to do. For those facing sudden death, leaving a heartfelt message ensures your loved ones aren’t left without closure.
Individuals in high-risk jobs often prepare such messages, but everyone should consider it. Writing a letter or recording a video allows you to express your love and say a proper farewell. Plan your words carefully, then store the message with your master file or use an app to deliver it posthumously.
1. Address Your Spiritual Requirements
While this list focuses on the practical aspects of life and death, spiritual considerations are equally important. This includes how you wish your remains to be handled before or after death. For instance, Catholics may need a priest to administer the sacrament of Extreme Unction (last rites), and certain faiths require specific rituals, such as washing the body in a particular manner. Clearly communicate these wishes to ensure they are honored.
These details can be included in your last will and testament, but they should be thorough and precise. Instructions for handling your remains may be extensive, so document them clearly and ensure they are accessible after your passing. Even in death, your wishes can be respected if they are properly recorded and communicated.
