Are You Prepared?
Robin Bush, ISR Communications
Willow suddenly lost her 68-year-old partner last month. They had always meant to draft wills, health care directives, power of attorney for financial accounts, and end-of-life wishes. But they never did. They were either too busy or felt they were too young to think about end-of-life planning. For over 35 years, they had made all life’s important decisions together, except these. Now, with her lifelong partner gone, Willow felt overwhelmed by the hundreds of decisions she had to make alone. How was she to navigate the complexities of estate settlement? How was she to change names on accounts, the house title, and the mortgage? What papers need to be filed? What accounts need to be closed, and did she have passwords? Who should she talk to at Medicare and Social Security?
Losing someone you care about, whenever it happens, whether in a sudden event or through long physical or mental decline, may leave you feeling emptier than you ever imagined. While hearts are broken, it helps to know you planned for this. As hard as it is emotionally to lose someone, knowing what to do to navigate the decisions and actions needed can make this path a little less rocky.
First, talk with your loved ones or a trusted friend to share your thoughts and get help in making a plan. Then, gather the information that will help survivors follow your plan. Below is a checklist to get you started with end-of-life planning. Tell someone you trust entirely where all your original documents are located.
Begin with your legal documents (usually need to be notarized):
- A will
- Durable power of attorney for finances
- Healthcare advance directive
- Durable power of attorney for healthcare
Then, create a Personal Data document that covers your essential information and a password list, and put it in a safe place. The personal data document needs to include:
- General information: Your full name, social security number, address (physical and mailing), date and place of birth, mother’s maiden name, location of birth certificate, marriage/divorce certificate, citizenship papers, and adoption papers. Education and military records, names and phone numbers of family/close friends, and emergency contacts, including doctors, lawyers, and financial advisors.
- Legal information: copies of your will, advance directives, powers of attorney, location of your original will and deed of trust for your home, mortgage papers, and car registration and title,
- Financial information: All financial accounts and where they are held with phone numbers and account numbers and answers to any security questions for logging in, insurance (life, home, car, health, and long-term care), where your most recent tax return is located, property tax details for payment (amounts, when due), mortgage details, a list of all credit/debit card names and account numbers.
- Health information: current prescriptions and supplier, location of your healthcare directive, copies of any directive to physicians proving who they can speak to about your medical issues, health insurance policies, and phone numbers.
- Other information: Identify if you want organ or brain donation and what your preferences are regarding dying at home, funeral arrangements, and burial. You might include a letter to heirs to indicate preferences on the disposition of physical items and pets and any cultural traditions you would like followed.
- Online information: Be sure the person you trust with all this information has the login to your cell phone, computer, and access to a list of all your passwords. Without the login for your phone or computer, they will remain locked, access to all your contacts will be lost, and two-factor authentication for accessing many critical sites will not work.
Who can help? You may need to consult an attorney on legal documents (ask about the costs before proceeding). Some papers can be created using online templates, but a review by an attorney is advisable. Doctors can help with your medical care options and setting up advance directives.
This is a big task, but it is one of the kindest things you can do for those who survive you. The biggest task is completing the legal documents. The personal data document seems complicated, but if you do one part of it each day, you will have it done in a month or two. Then you can relax – and live your best life with the assurance that you have made it as easy as possible for those who need to deal with your estate. Don’t leave someone you love in the position that Willow found herself in – lost, confused, and overwhelmed.