Strategies for Creating an End of Life Plan Many families disagree on a lot of issues including whether to give their patients a natural or put them through medical interventions, the division of property and power of attorney. An end of life planning is important to help you make informed decisions ahead of time to make sure that your loved ones can easily handle all your financial affairs. Your family will definitely thank you for sacrificing your time to write down an end of life plan by celebrating your legacy and memories of your life. Writing an end of life plan enables you to communicate your medicals decisions to your loved ones in advance. A solid end of life plan includes life support decisions, financial issues, organ donation, property division and funeral arrangement. Incase of a critical medical condition, it is important that you write your concern on whether the doctor should put you on life support or opt for complicated procedures. When you make this decision, it eliminates the emotional distress of a loved one having to decide your fate. 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. Many families are uneducated when it comes to burials; hence a will, trust or end of life plan will guide them on what to do.
Practical and Helpful Tips: Planning
Before making any critical decisions, consult with your doctor to get valuable information about extraordinary medical measures and life support. To help you settle your will and transfer of assets, it is crucial that you talk to your lawyer.
Practical and Helpful Tips: Planning
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. The financial advisor should guide you in making the correct decisions concerning your investments, college planning, retirement planning and estate planning. It is also the role of a financial advisor to protect you and your loved ones against financial disasters by implementing strategies such as annuities, long-term care insurance, car and home insurance. Lastly, it is also important to update your end of life plan after every two years to reflect on substantial financial matters that need to be revised, added or removed. It is also important that you brief people that you trust like your spouse, parents and children about your end of life plan. Informing entrusted persons will make sure that your wishes are granted and no one overturns any of the decisions reached.