Inheritance have you Made your will

An eventuality that all families must face is the fact that our time here on earth is limited. This is a difficult subject for most to deal with. At this point it is probably a little more difficult for me because I just lost my own mom. Even so, I will give you my best attempt to address a few things that I feel may be of importance to you. I believe that adequate planning can offer the family a bit more ease during a time of grief and loss. It will also help ensure that ones final wishes are carried out when need be. I believe it is very wise not to wait until a last moment to put your things in order. In fact, it’s simply good business to go ahead and take care of these things beforehand.

In my opinion, one of the first things that should be done is to prepare a will. It is an absolute necessity is specifying how you want your properties to be distributed. This may save the family a great deal of unrest and even arguments. Choose an executor, co-executor and perhaps prepare a power of attorney. This is probably something you should consult an attorney in regards to.

Personally, I feel that life insurance is an excellent investment. I recently visited the website of a nationally known insurance carrier. The site had a calculator that you could use to see the amount of daily expenses which might be incurred with the loss of a mom. I was not terribly surprised to see it can be a very large sum. A good insurance policy can assist in covering some of these costs as well as additional burial expenses. It may possibly even provide college funds for your children. There are several types of life insurance available and the process of choosing can be somewhat confusing. It would be a good idea to consult with your financial planner or a trusted insurance agent for more information on which policy is right for you.

I would also suggest a safety deposit box for all of your important papers, financial documents and small treasures. If you have specific items or heirloom jewelry that is to go to certain people, store those items there with a distribution list. There are usually a variety of sizes and price ranges to choose from. Check with your bank of preference availability.

A prepaid burial plan is a great idea. By purchasing this in advance it may remove some of the financial burden from your family. Not only this, it will spare family from having to make many tough decisions during a time when it can be had enough to think straight. Hopefully, since it is all pre-planned, differences of opinion about how things should be done won’t arise. Pre-purchased burial plots in the cemetery of your choice is another good idea. It leaves no question about where you would like to be for your final resting place. Several years ago many of my family members purchased our plots together. I think somehow it made things not quite so scary because I feel we will all be together again someday. I also think it assisted other family members in planning for their own eventuality. I realize that many of you won’t be able to afford to do this right away. An alternative might be to check with local funeral homes to see if they offer to keep final wishes on file. Be sure to let the family know where the information is located and put a copy in your safety deposit box.

Our family may be a little different than most as we have always been open to discuss one’s eventual passing. We see it as a natural part of life. I wouldn’t necessarily recommend talking to small children or more sensitive family members but I think it is most important for a person’s final wishes to be known. Not knowing can add to the devastation of loss leaving a feeling of shock and confusion for the family. It is my hope that my pre-planning will expedite the grieving process allowing my family to find peace sooner when my day comes. Although it may be difficult, you may want to encourage your adult children to plan as well. Planning together as a family may alleviate some of the emotional stresses associated with such necessities. In addition, I hope that this will be of some assistance to your in making your own choices for the future.

These suggestions are provided for informational purposes only. I highly recommend consulting with your attorney if you have any questions.