This will ease those processes for your loved ones, should these things ever come to pass. Talk to Your Partner or Spouse About Your Estate PlanĮstate planning involves considering some weighty decisions when it comes to long-term care, powers of attorney, and other situations that may arise should you become mentally incapacitated.Īlthough these are not the sunniest of topics, it’s important to express why you’re opting for the choices you feel most aligned with. So, where do you begin? Estate planning may look slightly different from one person to the next, but generally, the following list will cover the bases and be immensely helpful to those you leave behind. Leave Your Affairs in Order: An Estate Planning Checklist Leaving them to pick up the pieces and guess what you would have wanted is unfair to them and may not end as you would have liked. Many people put off estate planning for lots of different reasons: they’re too busy, they think they have plenty of time, they believe they don’t have enough assets to worry about, they’re confused and don’t know who can help them, or they just don’t want to think about death.īut one of the greatest gifts you can give your loved ones is to take care of this while you’re alive and well. Imagine if you died suddenly who would be affected? What arguments might it cause if your wishes and feelings hadn’t been clearly laid out? And though no one likes to think about their own death, end of life planning is the last legacy we leave to our loved ones. The hardest part of financial planning isn’t the numbers, it’s the decisions. Can I afford to change jobs? When can I retire? Should I sell my house? Can we afford to expand our family? But what about later? Who should handle your affairs for your family if you can’t? How will your partner or spouse manage? How much money should you leave, and to whom? We are all pretty used to planning our finances around certain life events.
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