Your finances are one of those things that are not easily discussed out in the open. Death is on that list of avoidable topics as well. If you die unexpectedly or if you have a long illness, this can leave your family in a burden monetarily. Have you ever cared for your family member during a long illness? The hospital expenses add up. If you are currently younger and healthy, you might not usually think about your own death. If you happen to die randomly, a person will need to put the pieces together when it comes to finances. This to do list does not cover all specific situations. You will need some assistance to sort out your finances.
Will you need a will?
Wills aren’t only a topic that individuals cash make. Will you need a vehicle? Do you have a job that has a 401(k)? Do you have a pet? A will is needed for these things. If you are eighteen years old and don’t live at home, you will need a will. It is the same as leaving instructions behind.
What about my bank account?
When you have bills that still need to be paid for after your death, you should think of creating an account that is passed on to the beneficiary. It only takes a few minutes to head to your bank and ask the financial advisor to add on a beneficiary. Your name and SS need to be given to the advisor.
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Should someone have knowledge of where I have my documents?
You should put your important documents in a special place and list it in the will. The instructions for your death, tax docs, your pet’s veterinarian history and your will need to be simple to look for.
Do you have a question about document preparation before death? Click here to contact the experts at Hunsberger Dunn LLP today!
Courtesy of Cuselleration