Tips for Getting Your Affairs in Order
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Adulting

Tips for Getting Your Affairs in Order

Everyone is expected to die someday, and it's best if there are plans already in place for what to do after you pass. This saves time, stress, and the chance for potential conflict among you loved ones, as well as takes any confusion out of what your wishes would have been. Here are some tips for getting your affairs in order.

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Tips for Getting Your Affairs in Order

If you're like most people, you probably don't have your affairs in order. That's understandable as life is busy and it's easy to let things slide, especially if you don't see yourself dying anytime soon. However, if something happens to you it's important that your loved ones know what to do with what you leave behind and where to find information on your wishes after your passing. That's why it's better to have your affairs in order, to take the stress and guesswork out of figuring out what you would have wanted after you'd passed.

Make a List of Your Assets

One of the first steps in getting your affairs in order is to make a list of your assets. Your assets include anything you own or that has your name on it, like all property, savings, investments, and possessions. Once you have made a complete list of your assets, you can begin to determine what you would like to do with each one should you happen to pass.

This process can be helpful in deciding how to distribute your assets in the event of your death, however likely or unlikely that might be at the time of reading this. For example, you may want to make sure you leave certain property or possessions to specific family members or friends. Alternatively, you may decide to sell all of your assets and donate the proceeds to charity rather than let someone else inherit them. Making a list of your assets is an important step in planning for the future and ensuring that your wishes are carried out.

Hire an Estate Lawyer

Should you happen to die without a will, an estate lawyer would be able to help your loved ones navigate the probate process and distribute your assets according to the laws in your state. While this may sound like a good idea, it can be expensive and may take longer than if you had simply created a will in the first place. Thus, it's better to make sure that once you've made a list of your assets, you move on to deciding how those assets will be handled after you pass.

You might even choose to hire estate lawyers to help you with the process of getting your affairs in order. An estate lawyer can help you with tasks such as creating a will, trusts, and other legal documents that will protect your assets and loved ones after you die. An estate lawyer can also help your loved ones navigate the probate process if you should die without a will.

Make a Will

A will is a legally binding document that specifies how you would like your assets to be distributed after your death. If you should fail to have a will drawn up that lists out your wishes, it will fall to the state to figure out what to do with the things you leave behind. This can result in your assets being divided up or inherited by individuals you yourself wouldn’t have chosen, or different assets going to the wrong people.

When creating a will, you can name an executor in your will, which is the person who will be responsible for carrying out your wishes. You can also designate beneficiaries, who are the people who will receive your assets. It is important to update your will periodically to reflect any changes in your circumstances, such as the birth of a child or the purchase of a new home. Making a will is one of the best ways to make sure that the assets you wish for specific people to inherit are distributed according to your wishes.

Create a Powers of Attorney

In addition to making a will, you should also consider creating a power of attorney. The power of attorney means that you decide to designate someone else, someone you trust, to make financial or medical decisions on your behalf if there should ever come a time that you can’t do so yourself. Such as in the event of a coma, terminal head injury, or other debilitating diseases that would take away your ability to make decisions for yourself. This can be an important tool in ensuring that your wishes are carried out even if you are unable to communicate them yourself.

Have a Health Care Directive

Another important document to consider creating is a health care directive. A health care directive allows you to specify your preferences for medical treatment in the event that you are unable to communicate them yourself. This can be an important tool in ensuring that you receive the medical treatment that you desire even if you are unable to express your wishes yourself.

These are just a few of the important steps that you can take to get your affairs in order. By taking the time to plan for your death, you can also make sure that your loved ones are properly taken care of and that your wishes for inheritance are carried out. While it may be difficult to think about your own death, it's important to remember that it's not something that you can ignore. Making sure that your affairs are in order is one of the best things that you can do for yourself and for your loved ones.

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
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