Many of us don’t like to think about “the end”, and we certainly don’t like to talk about it out loud. All too often we hear stories about an individual passing away, and having nothing prepared for their family. The few months after a loved one has passed should be filled with grieving, family gatherings, and sharing great memories. WIthout a plan in place, those months will be filled with paperwork, lawyers, and courts fighting over who has rights to what. Make sure you and those around you are prepared for a peaceful exit.
First things first, ask yourself these important questions:
Do I have a will?
Do I have a living will?
Do I have a durable power of attorney?
Have I updated my beneficiary designations?
Do I have payable on death beneficiaries on bank accounts?
Do I have my financial information recording somewhere for easy access?
Even in the case of a single beneficiary, this can be a difficult situation. The time spent tracking down all the vital information can be exhausting during an already trying time. Just because you have passed doesn’t mean your home automatically is passed down to your only child. The paperwork can take months and longer if there are any challenges. Additionally, the stress that comes from not having your affairs in order can make your golden years less enjoyable than they should be.
Happy Homeowners are happy because they are thinking outside of themselves. Prepare yourself, your family, your friends, and everyone else around you to be a happy homeowner themselves.