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Protecting Your Wishes
Being a witness to any death can be quite freeing. For those who have long been afraid of death, it gives you a new perspective on both death and the significance of life. Whether your loved one was extremely organized with the foresight to prepare for his/her death or one whose records were left in disarray without a properly executed Will, you have also witnessed the aftermath of death and that experience inevitably changes how you would like to plan and prepare for your own death.
Beyond updating your legal papers and crafting a new financial plan, recording critical information about how you would like your personal and financial affairs to be handled is also criical. The most efficient way to accomplish this is by filling out a Financial Planning Journal which covers:
- People to be notified of your death
- Personal documents/information
- Benefits from past and present employers
- Bank and investment accounts
- Medical and disability insurance
- Credit, debit and ATM Cards
- Tax returns
- Special, final requests
- Collectibles and their current value
- Ongoing business ventures
- Real estate
- Trust funds
- Personal debtors and creditors
- Homeowner's and mortgage insurance
- Vehicles, boats and related insurance
- Organ donation
- Funeral & service arrangements
- Life insurance policies
- Other loose ends or unfinished business
As you know, your survivors will be forced to organize paperwork, collect benefits, monitor cash flow, manage a wide range of assets and liabilities and process the estate while still in a state of shock, disbelief and grief. Having your personal financial diary completed will be an invaluable to guide them through the labyrinth of decisions awaiting them. |
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