As people age and reflect on their future, they might consider how they want their possessions divided when they die, or where they would want their ashes scattered. Unfortunately, a lot of these important decisions and final wishes are never written down or documented anywhere, which can create a legal and financial mess for their survivors and loved ones. In today's Aegis blog post, we'll look at how individuals can take proactive steps to avoid leaving behind a financial and legal nightmare for their loved ones when they pass away.
Create A Will
When an individual creates a will, they are creating a blueprint for how they want their property handled upon their death, as well as instructions for other important choices such as burial wishes or end-of-life medical decisions. When people pass away without a will, this can create a legal entanglement for survivors, who must figure out how property should be divided and deal with possible legal ramifications. Creating a will can save loved ones a great deal of time, stress, money, and pain as it can help avoid a complex and messy division of property or complicated decisions.
Leave Detailed List of Account Information
Another way individuals can proactively help their survivors before they pass is by making a master list of all account information for finances and personal information. This list should include the names, account numbers, contact information, and login details for all accounts such as banking, retirement, insurance, bills and utilities, auto-draft payments, social media, and electronic devices. This ensures that loved ones can access important accounts and close them when necessary.
Have Life Insurance Coverage
Finally, help loved ones avoid a financial nightmare by ensuring that there is ample life insurance coverage available in the event of death. This coverage can help families cover the costs of a burial as well as immediate expenses so that they can focus on grieving and healing. Without the protection Life Insurance offers, survivors are likely to scramble to have the funds for a burial or memorial service, much less cover any outstanding debts or expenses that must be paid.
Aegis Insurance & Financial Services is committed to helping individuals and families take the right next step in planning for their future, which includes quality Life Insurance coverage. Our Aegis team can help you assess your needs and goals and can create a customized insurance package tailored to your unique needs. Contact our office at 713-850-7622 with questions, or fill out our online form to request a free quote!