There’s an adage that says the only things that are certain in life are death and taxes. While there may be a lot of debate about taxes, death is a certainty for all of us. No matter where you are in life, you need to plan for this eventuality, especially if you want to ensure that your assets are passed along to certain people. Here are some things to consider.
Writing a Will
A last will and testament is a legal document that specifies how your estate will be distributed after you pass. It also names an executor, or person to manage your estate until it is distributed. To create a will, you need to be an adult and of sound mind. While there are various resources available to help with creating a will, a lawyer near me Marion NC can assist with this and other services related to estate planning.
The power of attorney refers to the written authorization of an agent to act on your behalf if you’re incapacitated or unable to function. Some health conditions such as dementia or a stroke may render you unable to make decisions about medical treatment and end of life. If you’ve given someone the “power of attorney” they can make decisions for you. Many jurisdictions and organizations require this authorization to be in writing.
Deciding on Death
Another factor to consider in end-of-life planning is how to die. You may have strong opinions on how you want to die, including refusal of life support treatments, euthanasia, and disposal of your body. Having these decisions formally documented can spare contentious debates among your loved ones after you pass.
While nobody wants to think about dying, it’s important to get your affairs in order while you can. Your desires should be clear on medical care, funeral details, and an inheritance for the ones you love. Taking care of business now helps those who survive you in the future.