Guide: End of Life Planning
As we get older, start families, and then watch our children start families of their own, it’s hard not to want to savor every moment you get to spend with your loved ones. You want what’s best for your family members, and you will always do whatever you can to support them. A less talked about way to support and care for your loved ones - especially after you’re gone - is the concept of end of life planning.
As you’re enjoying life, you may find it hard to take time to make end of life plans and arrangements. That said, coming up with a comprehensive plan for your family members to carry out after you are gone is a tremendous way to look out for them while you’re still here. If you’re unfamiliar with the process of end of life planning, we have some suggestions for how to get started.
End of life planning checklist
Coming up with an end of life planning checklist is a great way to stay organized throughout the planning process. Here are some key areas to focus on:
Advance care planning:
This is a wide-ranging topic, but the high-level definition of advance care planning is coming up with a plan for the type of medical care you would wish to receive should you find yourself facing a medical crisis. This is a very emotional and important topic, so we would recommend consulting your closest loved ones and family members when you’re going through the decision making process. That said, these decisions you make should ultimately be your own. Advance care planning includes things such as deciding what type of life-sustaining treatments you would or would not want to receive, how you would want doctors to handle your care if you were diagnosed with a life-threatening or terminal condition, and putting these plans in writing should you find yourself in a situation where you are unable to speak for yourself.
Making copies of and completing the following documents:
There are many ways to organize your end of life plans, but the following are a few of the more important documents that you will need to complete:
Last will and testament
Living will
Living trust
Durable power of attorney for finances and medical care
Plans for your assets:
Much of the planning for what to do with your assets can be worked out in your will and with the help of an attorney. But you will want to make sure you have a plan for the what becomes of your home (and mortgage if you have one), your credit cards and bank accounts (checking and savings), any investments you have, life insurance policies you may have, any pension or retirement benefits in your name, and any outstanding loans or debt you have.
A contacts list:
While your family members and closest friends will most likely have each other’s contact information in some form, it’s a good idea to make a list of other important contacts for anyone you are leaving in charge of carrying out your end of life plans. Some of those contacts could include:
Coworkers, business partners
Accountant
Personal attorney
Any religious groups you’re affiliated with (particularly if they will play a role in your services)
This blog is mainly a resource to help get your thoughts organized. Aside from the areas of planning that we outlined above, there is of course a lot that goes into planning your funeral, burial and memorial services. For more information on how to pre-plan for those events, please be sure to check out the following guides: