One of the biggest fears of any parent (whether they have small or adult children), is how their family is going to deal with their loss, financially and bureaucratically.
Whether you like it or not, there’s quite a lot of paperwork and decisions to be made when you’re gone — something that your family would not want to do. They would want to concentrate on grieving your loss, after all.
So how do you make arrangements? Some may be difficult right now, but there are definitely some simple things you can do to make things easier for those you leave behind. Here they are:
1. Get all your documents together and label them properly.
One of the biggest hurdles they have to face is looking through your things for your certificates, tax returns, properties and other papers. It’s best you get all your documents together (including bank documents and insurance policies) then label them in different envelopes. Show it to your children so they know where to get them when the time comes.
2. Transfer as much real property to your heirs as you can.
While you’re alive, you may want to donate your properties to your kids or heirs. Any estate planning lawyer Utah has certified can tell you how to do so with the least hassle and cost! This way, you only pay a donation tax (which your children can afford) instead of the whopping inheritance and estate taxes that come with your passing.
3. Set up special insurance or funds for your passing.
Nothing beats being prepared for the worst with enough funds to cover everything. One of the biggest things you could do to help your family out is to acquire funeral plans and arrangements beforehand. You can decide on everything, and simply let your family grieve, knowing that you have arranged things exactly as you would have wanted.
Keep in mind that there are a lot more things to consider and you may not be completely prepared for everything, but even the littlest things can make your family’s ordeal much easier.