Announcement

Collapse
No announcement yet.

Legacy Planning

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Legacy Planning

    If light of recent events with my family we have a new sense of appreciation for having completing advanced directives and medical power of attorney. Here's a link that covers those but also addresses other areas that will make life easier for those left behind when you pass or if you are not capable.

    Here’s the web site with the recommended legacy planning documents like the survivor checklist, document locator, sample messages to survivors, financial companies, and SSA.



    This is the best site I’ve found that presents the information in a condensed, easy to read and to use manner.

    I strongly advise you provide a list of user names and passwords to a trusted family member. I told my husband where to find my hand written list, which is a secured location. Pistol recommends using Last Pass, which stores user names and passwords in multi-encrypted environment but also allows her designee (husband) to access those accounts when needed.

    One big thing - make sure your relatives know about how to pay your insurance premiums. We met a feller at the hospital who's 27 year old son had a massive stroke a year ago and struggles to function. Because his parents did not know about his health insurance and how to pay for it, he lost his insurance and relies upon Medicare and Medicaid.

    #2
    Good information, thanks for sharing. I had a relative pass away a few years ago. The best thing that they did was to write down every bank account number, investment accounts, and every life insurance policy number that they had. Made things much easier for the family.

    Comment


      #3
      Good information! I'm going through all of this with my Mother and I can tell you all that if your parents are up in age, convince them to do a family trust! It will save you so much grief when dealing with their finances if they have to have nursing or assisted living care.

      Comment


        #4
        Yes, please have a plan in place. My BIL comes from a well to do family, lots of land, his sisters and brothers were fighting over who got what, lawyers got a chunk and a sister who had mom sign a few papers ended up with most.

        How some families can treat each other that way is beyond comprehension.

        Comment


          #5
          Tagged for later reading


          Sent from my iPhone using Tapatalk

          Comment


            #6
            Tracey, I would recommend having a lawyer review the completed papers.

            We bought a package and had it reviewed for $100, he recommended a couple minor changes.. something about how a probate judge could interpret certain words.


            Also, sit down with family, and explain your wishes ... hopefully to keep from having any drama after death.

            Comment


              #7
              Yes, of course have an attorney look over everything, but what I'm referring to is information for your family.

              Basically, it's "what to do when I die" & "what to do if I'm incapacitated." Typically it will start with the durable power of attorney, medical power of attorney, advanced directives, last will and testament, which are legal documents.

              You will will also want people to know about all of your insurance policies, accounts, creditors, titles to vehicles, where you want to be buried, special music, who to contact, social media accounts, what to do with pets, and etc.

              Comment


                #8
                Originally posted by Dusty Britches View Post
                Yes, of course have an attorney look over everything, but what I'm referring to is information for your family.

                Basically, it's "what to do when I die" & "what to do if I'm incapacitated." Typically it will start with the durable power of attorney, medical power of attorney, advanced directives, last will and testament, which are legal documents.

                You will will also want people to know about all of your insurance policies, accounts, creditors, titles to vehicles, where you want to be buried, special music, who to contact, social media accounts, what to do with pets, and etc.
                Or better yet, hire an attorney to do these things for you so you don’t mess it up.

                Comment


                  #9
                  You could but you don't have to.

                  Comment


                    #10
                    Most all of it is common sense, yet few ever plan or do anything.
                    Dealt with it my entire adolescence, as Dad owned cemeteries, casket stores, monument shops, etc..
                    The stories and crazy s&!+ that happens to families once someone dies is mindblowing. Half the time you think they must be lying.
                    All preventable by doing a a few common sense things.

                    Comment

                    Working...
                    X