Death and How to Plan for the Inevitable
By Megan Brinsfield, CFA, CFP
PLANNING FOR YOUR OWN DEATH
- It's all about those documents!
- Will, medical directive, POA
- Beneficiary review and asset titling to reduce probate burden
- And don't forget about online accounts like Facebook and Gmail – many providers are putting "trusted contact" provisions in place
- Talk about final plans
- Burial, cremation, or donation – oh my!
- Programs to pre-plan and pre-pay your funeral
- If you haven't hired a financial advisor already, consider doing so
PLANNING FOR CAREGIVERS
- Look into what benefits you have through your workplace such as bereavement leave, FMLA, and remote or part-time work arrangements
- Take a moment to think through the hypotheticals of what you would need to do if a loved one was seriously ill in terms of relocating.
- Set aside time for the emotional part by considering a therapist, grief support group and/or reading and journaling. Caregiving can be emotionally draining.