Sickness, diseases, and death are natural phenomena; no one escapes this reality. Although it’s hard to think about it, you still need to prepare yourself for the possibility that you may fall sick and die one day. As you grow older, this becomes more likely. Thinking about handling your affairs during an emergency can be overwhelming, but you can follow some steps that make the process easier and less stressful for everyone involved.
Financial planning in advance helps you depart with peace of mind. This blog post by the experts at Family First Life – Strong Tower & Hammer Lane Consultants in Dallas, TX, lists down three tips for getting your affairs in order so you’re ready when anything comes up!
1) Prepare and Organize the Legal Documents
A critical task you need to do is have your legal documents in order. This includes a will, power of attorney, and healthcare proxy. If something happens to you and you don’t have these documents prepared, your loved ones will have to go through a lot of trouble and expense trying to get them sorted out.
Make sure that your executor knows where all your important papers are kept. It’s also a good idea to let key family members know about your wishes in advance if something happens to you suddenly. This way, there won’t be any surprises or disputes when you declare your will.
2) What Are the Important Legal Documents You May Require as You Age?
Every senior citizen should have a will stipulating their intentions of distributing their assets and property upon death and who the executor of your estate will be.
You may also need to prepare a power of attorney. This document gives another person the right (and responsibility) to take care of your finance issues like paying bills or managing bank accounts if necessary. It can also give someone else authority over medical decisions if something happens where you’re not legally competent.
3) Organize Your Essential Documents
One person’s essential documents might not be as important to another person. Generally speaking; however, you’ll want to have original and copies of the following:
- Birth certificate
- Marriage license/certificate
- Social Security card
- Driver’s license or state ID
- Recent tax returns
- Financial Records
- Sources of Income
Having these documents in a safe place will help ensure that your loved ones don’t have to go through the hassle and expense of tracking them down if something happens to you.
Making your healthcare decisions can be a difficult task; you need a reliable authority to guide you regarding the procedure. Family First Life – Strong Tower & Hammer Lane Consultants help residents in Dallas plan for their retirement and death by offering final expense and retirement services. We ensure your future is secure and that your investment plan yields the expected returns. Contact us today and get the protection and coverage you need for yourself and your family.