New Years has arrived and with it the desire to make resolutions. Some choose to try to lose weight, be nicer to their friends or earn more money. An important resolution for those withestate administration plans, though, might be to update your living will and other important documents. As we reach the end of life, our resolutions evolve to consider our family members and heirs, who may face serious difficulties without guiding documents.
A variety of options exist for creating a living will and other documents related to aging. You need to identify your health care surrogate, the person who will make decisions for you if you are incapacitated. You can also identify quality of life details by filling out an aging with dignity provision, available through many attorneys.
Consider all the potential possibilities before you craft your living will. What do you want to happen if you develop cancer? What about an injury or illness that leaves you in a permanent vegetative state? Your heirs will need to know whether you would rather receive the maximum amount of care, or if you are willing to be taken off life support when the situation looks dire. Share these wishes with your family and friends using a formal document to make sure your directions are followed.
Furthermore, in the New Year, you should review and perhaps revise your list of beneficiaries. If you would like to change inheritance documents related to trusts, accounts and other assets, the New Year is always a good time to start that process. Additionally, taking an inventory of your assets and listing their locations is a good idea. You need to be able to identify your assets if you expect to bequeath them on heirs. Consolidating assets and accounts can be beneficial if you are facing a terminal disease, for example.
These three activities should take you less than a day to complete, but they will provide you with peace of mind for the upcoming year.
- Gathering Evidence for Undue Influence Claims - April 15, 2024
- The Impact Of Divorce On Jointly Owned Properties In Probate - March 15, 2024
- The Difference Between Probate vs. Non-Probate Assets in Florida - February 15, 2024
