There are a number of simple things that you can do now, to help your loved ones in the event of your death. It may be difficult for family and friends to make important decisions and choices during their time of grief, and now is the time to inform others of your own final wishes, preferences, and requests.
Think about these six ways that you can do something now to help your loved ones later:
Organize your affairs. Do you have life insurance? How about any investments, accounts, or trusts? Gather your documentation and make it easy to figure out who to contact and what resources are available at a glance.
Create a file. Open a file on your computer desktop with the pertinent information that your family would need if you died. Compile hard copies of documents, papers, and account numbers in a folder that you keep in a common, yet secure, place and let others know where it is.
Name an executor. A death can drive siblings, relatives, and family members apart when there is a dispute over the deceased's executor. Name one now, talk to this person about it, and document their executorship.
Invest in insurance. Too many people put off investing in a small life insurance policy because they think that they need to wait until their finances are better. There are many low-cost, fixed-premium policies that will pay off enough for a burial, funeral, and final expenses. Additional coverage may allow you to leave a little something for those left behind, too.
Make prudent, long-term investments. In terms of looking ahead and taking care of your loved ones, low-risk, long-term investments might be best. This is not the situation for high-risk ventures or supporting schemes that could cause you to lose what you have worked hard for. Set up your survivors with investments that will pay off in the long run.
Make your wishes known. The most important thing that you can do to help your family later is to make your final wishes known. This eliminates handling tough decisions over to your loved ones at the most difficult of times. Have a candid conversation, let others know what you want, and show someone where to find your papers and files in the event of your death.
Don't let your death burden those grieving your loss; depart with dignity by taking care of things today. Take time and effort to make your passing easier on loved ones, and gain the satisfaction that your affairs are truly in order. For more information, consider contacting an attorney like Cormac McEnery.