Death is a difficult topic to even ponder about, although it will inevitably happen to us all. One aspect of dying is what will happen to my things once I pass?
Only 21% of people aged 65 or older have wills and power of attorney in place. Being properly prepared ahead of time ensures less of a burden on your loved ones once you pass.
If you pass without a will in place all of your assets and debt are frozen, meaning no one can enter your residence to empty out your fridge or pay a credit card balance. This freeze of accounts by the government can take months to sort out until they appoint an executor and divy up the assets.
Wills used to be only created by an accredited lawyer but in today’s fast paced and digital era you can simply download one online and fill it out.
Another aspect is the importance of communication. Ask your loved ones what they would prefer, is there a certain piece of furniture they would like? Who gets your jewelry?
Living assets, like pets, also need to be taken care of, so who is willing to adopt your pet if they outlive you?
Digital identity is a fairly new but important aspect of passing, what would you like done with your email or social media accounts? You can put that information in the will as well.
Making your will “iron clad” and covering all the bases will safeguard your loved ones against unwanted extra stress while they mourn.
Keep your will in a safe spot, print multiples of it and let others know where to find it.
As grim of a topic as wills and estate are, they are important in making sure your wishes are met. Thinking and talking about it will make it easier for everyone when the time comes.
Enjoy the present but always be prepared for the future.
