Thinking Ahead

A will is a legal document that describes how your property and assets will be distributed when you pass away. Your trust and estate attorney will help you draft this, and your executor will be the one to carry out its directions.

Probate is the legal process by which assets in a will are distributed. This can sometimes take a long time, which is why you may be encouraged to avoid probate as much as possible. Estate taxes can be applied to estates of a certain size, and they can the value of your estate. Talk to your trust and estate attorney to learn how to protect your assets.

A will is NOT the place to list whether you want to be buried or cremated and the details of your funeral service. Due to probate and the time it may take to find the will in the first place, a will is often processed long after the cremation or burial has occurred.

Neptune Society also works closely with Willing.com, an online will writing service run by a team of highly respected attorneys. You can use this service to draft a will online, and we encourage you to reach out and let their team answer any questions you may have about the process.

• Name guardians for minor children
• Name new caretakers for pets
• Name beneficiaries for any account that you don’t want going through probate
• Ensure all real estate and prized possessions are inherited by the correct people
• Coordinate with a spouse through the drafting of a will. Some decisions may even require their permission

A trust is a legal document that transfers an asset from you to a third party so it can be distributed more quickly to beneficiaries after you pass away. Your trustee(s) will distribute the assets to your beneficiaries. Trusts are intended to avoid probate, and some types may even help you avoid estate taxes in certain cases. Talk to your trust and estate attorney to understand if a trust may be beneficial for you.

A power of attorney is not just a person. It’s also the name given to the document that gives the person that power. While you technically don’t need your trust and estate attorney to complete the form in most states, discussing the financial and legal power of your power of attorney with your attorney is highly recommended.

• Complete the financial and legal power of attorney form for your state.

An advance directive is a collection of documents that describe how you wish medical decisions to be made for you when you cannot make medical decisions for yourself. Living wills, health care proxies, DNR forms, and organ donation forms are all part of your advance directive. Make sure you go over these forms with your doctor and that you clearly explain your wishes to your health care proxy.

Do Not Resuscitate Orders often star in medical dramas, but they play a very important role in real life as well. They indicate that if your heart or breathing stops that you not be giving life-saving treatment. Do talk about your wishes with loved ones and with your medical providers so they know and can accept what you request.

Organ Donation is one of the first things that have to be decided after someone passes away. Make sure to tell your doctor and your health care proxy whether or not you wish to donate, and keep in mind that doing so can save others’ lives.

• Decide if you want to be an organ donor
  • If so, complete the required forms for your state with your doctor
• Decide if you wish to sign a DNR
  • If so, complete the required forms for your state with your doctor
• Talk to your doctor and estate attorney about completing a living will
• Ensure your healthcare proxy knows your wishes

One of the most important parts of Thinking Ahead requires thinking about how your body will be cared for. Traditionally, such affairs are handled by loved ones after someone passes away, but there is a better way. Taking time to think about where and how you will be laid to rest can take a huge load off someone’s shoulders. Your loved ones will already be experiencing substantial grief and stress.

To make planning easier, some companies like Neptune Society offer preplanning packages that include many services at more affordable prices than purchasing these services separately. Neptune Society concentrates on cremation services, so our packages include the cremation service itself, transportation, an urn, and assistance with completing death certificates.

If you wish to use only some of the packaged services (for example, if you wish to use your own urn), then let your funeral director know.

We talk about a lot of this next week, so feel free to schedule appointments about this topic then or skip ahead and take a peek.

• Think about how you want to be cared for after you pass away (See Week 4)
• Choose a funeral home that can carry out your wishes
• Preplan a service
• Write down contact information

Insurance and employer benefits can make paying for your final expenses much easier. Long-term healthcare and funeral services can be costly, but certain benefits can offset those costs for you and your loved ones. Take some time to see what you may be eligible for, and factor that into your financial decisions.

Neptune Society also provides extensive information on veteran funeral benefits and veteran services. For any questions about what makes a veteran eligible for benefits, how to apply for them, and ways that you can preplan certain services, look to one of our articles on the topic or our comprehensive ebook.

• If you’re a veteran, record what benefits are available to you
• Talk with your financial planner about what employer benefits you may have
• Talk to your insurance agent about what kind of insurance you may need

Many Americans have strong religious beliefs about what happens after someone passes away. Part of these beliefs may include specific rituals performed at the time of need. Talking to a religious leader can help you clarify what you may need to do and what you should not do regarding your final arrangements. Many religions also have general rules to consult such as whether cremation or burial is generally accepted.

• Speak to a religious leader about your plans