10/13/2024
🚨ATTENTION ATTENTION🚨
Since it is October and Financial Planning Month, I wanted to share this.
To avoid issues during the worst time, of losing a loved one, please take heed and share these instructions.
🗣 IMPORTANT information to get your affairs in order‼️
💰Make sure all bank accounts have direct beneficiaries. The beneficiary need to only go to the bank with your death certificate and an ID of their own.
👨👩👧👦Living Will: Allows one to put in writing exactly what you want done in the event you cannot speak for yourself when it comes to healthcare decisions as well as other final decisions.
👩🏽⚖️Durable Power of Attorney: Allows one to designate a person to make legal decisions if you are no longer competent to do so.
🏥Power of Attorney for Healthcare: This document allows one to designate someone to make healthcare decisions for them.
🛍Last Will and Testament: Designates to whom personal belongings will go to, who the Administrator will be. But if you have a beneficiary on any of your financial accounts, that will override a will. For instance if you say I leave all of my possessions to my daughter Susie, but on your savings account the beneficiary is your best friend, then the money goes to your best friend
🪦Funeral Planning Declaration: Allows one to say exactly one’s wishes as far as disposition of the body and the services.
📚 💳Make a list of all banks and account numbers, all investment institutions with account numbers, lists of credit cards, utility accounts, etc. Leave clear instructions as to how and when these things are paid.
Make sure heirs know where life insurance policies are located. 📂
🚗 Make sure you have titles for all vehicles, campers, etc!
Set up a TRUST for intended beneficiaries, especially those that are too young, and appoint a trustee of said trust.
MOST IMPORTANTLY!!!! - Talk with those closest to you and make all your wishes KNOWN. Talk to those whom you’ve designated, as well as those close to you whom you did not designate. - Do this to explain why your decisions were made and to avoid any lingering questions or hurt feelings.
Hope this lights a spark to encourage all your friends and family to take care of these things to make it easier for those we all leave behind!
