While dying and death are difficult topics, topics that it are usually hard for each of us to talk about and even harder for many loved ones to listen to, being informed and prepared is vital. While of "sound mind and body" we can express wishes, divide an estate, and communicate our desires. Waiting may mean a physical and/or mental decline that prevents us from sharing our intents and means that survivors may not know just exactly what we really wanted at the end of life.
Considerations:
Do you have a will? I've been advised that a "simple will" is not only simpler, but it can cover just about all aspects of an estate. This will caries who gets what and also how assets are divided, such as "Sell the house" and divide the proceeds; Fred gets the car and Rosie receives the pick-up. I did not realize until recently that step-children fall outside of the realm of regular inheritance unless they are named specifically as recipients or unless they have been adopted. With many blended families, stipulating inheritance increases in importance. I was also advised that for all smaller items like, "Mother's bookcase" or "Great Uncle Jim's gun collection", an attached sheet on the will that can be removed and replaced as times and circumstances change is far better than having every item listed in the will that has been witnessed and notarized. In the latter, a formal process is necessary to make desired adjustments.
So there is your assignment for the week: Get that will in order and processed. Whether an online document is downloaded or an appointment with a lawyer or CPA is deemed best, do it now. This enables a far easier transition for those who come after.
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