Your Legacy and Your Loved Ones

In our daily lives, we don’t like thinking about our own deaths. But whether we consider our own mortality or not, death is inevitable. That’s a grim thought, but it’s also something that should spur us into action. We know that we’re going to die at some point, so we need to prepare for that eventuality.

We also need to think about another reality which is we don’t know when we’re going to die. Planning for our own death doesn’t just mean planning for long-term wealth and making a will when we grow old. We need to remember that it’s always possible for us to die younger or more suddenly than we expect. Many of us will be lucky to live to a ripe old age, as life expectancy in American is 78.86 years. But we can die at any age from dangerous like car accidents, cancer, and even criminal acts.

We can’t spend our whole lives thinking about these realities, but we need to plan for every possibility because we have priorities that will outlive us.

What happens to your loved ones when you’re gone?

Losing a loved one is a difficult thing, and each of us would probably rather not think about the pain our loved ones will experience when we leave them. But we should think about the other factors, including financial difficulties that would attend such a loss.

There are many ways in which losing a loved one can be a serious financial burden. Things like coffins and funerals are expensive. The process of passing down assets can be pricey, especially if you have not taken the care to set up a good plan and legal documentation ahead of time. And losing your income can be a major burden for your family. If you are a breadwinner — especially if you are the only breadwinner — your unexpected death could really harm those you care about.

You can’t predict whether or not you might die young or suddenly. But you can take measure that will ensure such a thing would not destroy the lives of the people you care about.

Safeguarding your loved ones’ futures

You want your loved ones to be secure with or without you. That means that you need to plan for all eventualities.

One important way to protect your loved ones is to invest in life insurance. If you pay into a life insurance policy while you’re alive, it will be around to help your loved ones if you have to leave them unexpectedly. Life insurance policies can cover costs for items like funeral expenses and can make up for lost income.

You should also make plans for your family and draw up a will. A will is something one must not neglect. When someone dies without a will, the process of passing down their assets to their loved ones can be a frustrating one. You can ensure the best possible future for your family by working with an attorney to draw up a will.

Working with an attorney and other advisors

All of this can seem a little complex — and, in fact, it is. But you aren’t expected to handle all of this planning, financial work, and legal red tape by yourself. You can, and should, turn to a trained expert in order to get the support that you need and deserve.

Look for an attorney who specializes in wills and estates. Such an attorney almost certainly also serves as a probate attorney, meaning that your loved ones can work with that same individual to follow through on the provisions of your will.

Other experts, including insurance brokers, can help you add to your safety net. Work with your trusted attorney to incorporate all of these options into a unified plan. You can leave letters and other helpful documents behind in addition to your legally binding documents. You can write out guidance and reminders for your loved ones to ensure that they follow the steps necessary to make your plans a reality. You can even speak with experts at your local funeral home about setting up payment and planning in advance.

It’s never easy to consider the inevitability of one’s own death. But for those who have loved ones to protect and provide for don’t have the luxury of ignoring the reality of the situation. When the situation is looked at thoroughly and a plan is put in motion, you can ensure that your love and protection outlasts yourself.