Smart Ways to Prepare for the Future
- Put your wishes in writing. If you have saved little treasures through life which are important to you and you want to make sure they get to the right hands when you die, put it in writing. The items you have saved may be things like books, Bibles, rugs, furniture, clothing, letters, photographs, appliances and jewelry. Write out a letter with instructions on who is to receive what and where the items are located.
- Make a Will. Identify who is to receive what from the things you have accumulated in life. A lawyer should be consulted to help if that is possible.
- Life Insurance should be left to intended beneficiaries.
- Prepare a durable power of attorney. Name someone you trust to look after your assets in case you are disabled.
- Prepare a release of information form for your doctor. Permit your doctor to share your privileged medical information with the persons you identify.
- Prepare an Advanced Directive. Allow medical decisions to be made by someone you trust, on your behalf, in the event you are unable to communicate.
- Set up a Trust and avoid Probate. If you are able to hire an attorney and prepare a trust, you can make it much easier on those you love by avoiding the costs of a probate and privately passing the title to your assets to those you identify. (This is usually a “Best Practice” in most estate planning.)