Things To Do Before You Die

When we are 21 we all believe we are immortal, and this never changes. We may grow older as the years pass but we don’t grow up, not really. But none of us is immortal. There is an old saying which spews the truth about there only being two certainties in life – death and taxes – and it is absolutely right. We are all going to kick it at some stage.

Image Credit: Creative Vix (Pexels)
Image Credit: Creative Vix (Pexels)

When we are 21 we all believe we are immortal, and this never changes. We may grow older as the years pass but we don’t grow up, not really. But none of us is immortal. There is an old saying which spews the truth about there only being two certainties in life – death and taxes – and it is absolutely right. We are all going to kick it at some stage.

What you don’t know, however, is how unexpected you final farewell will be (look at the legend killer that was 2016!), so doesn’t it make sense that you have a plan in place, and doesn’t it make sense that you tell others about your plan, for your children’s sake if nothing else.

Basically, there is nothing worse than having a legal dispute over your estate that you never got around to planning, which is why we have come up with this list of things to do before you die.

Let’s Get Physical

First things first, go through all of your possessions and make a list of anything that is worth more than a hundred bucks. Your house, cars, artwork, televisions, collectibles, jewellery, gadgets, computers, lawnmowers, power tools, furniture; basically anything.

The Paper Chase

The physical side of your belongings is only part of the battle; what’s just as – if not more – important is your paperwork and entitlements. What is especially important on this front are details of your 401k, bank accounts, brokerage accounts, life insurance policies – and any other insurance policies – premium bonds, share certificates. Anything that can be predicated on your death should really be collated.

Credit Where Credit Is Due

Debts should always be separated from other paperwork because it will make life a lot easier for your kids when that day comes. So anything where you owe money needs to be considered and put in this filing cabinet; mortgage paperwork, car loans, equity lines, credit cards and anything else you can think of. If you aren’t sure about what debts you have, we recommend you look at your credit report every year, just in case a credit card has slipped under the radar.

Time To Copy, Print, Send

Okay, this bit of the process is super-duper important. When you have collected everything you need to collect and made lists of everything worthy of making a list; make a copy of them (at least three copies), sign and date them, and then give the original to the person that will be looking after your estate. If you’re worried about having missed something important, then we recommend you speak to these probate lawyers from IRB Law as they will be able to guide you in the right direction. Okay, so original to an administrator you know and trust, the second copy should go to your next of kin and the third copy is yours. Put it somewhere super safe.

Where There Is A Will There Is A Way

We can’t stress this enough, but anyone over the age of 18 should have a will. It just makes sense because, well, it is kind of like the rulebook when it comes to your stuff and it could be the very thing that stops a super messy world war three from erupting through your family. Do it with a legal team, or online, it doesn’t really matter. It just matters that you have one and that you sign and date it. Oh, and have two witnesses sign it too. Once this is done, make copies as per, and then send it to your trusted administrator/executive.

See, that wasn’t too hard and it will save your kid’s so much hassle. Trust us.

 

This post was submitted on behalf of pennymindingmom.com.

 

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