Like other residents in Iowa, you want what is best for yourself and your family. Because of this, you have decided to take steps to put certain protections in place when establishing an estate plan. But the estate planning process creates many concerns. First, it is very difficult to think about death, which can cause many to delay this process or not complete a plan to its fullest potential. Additionally, it is difficult to put forth effort in something you won’t benefit from, so it has become more an more important to take the focus off of yourself and placed on the loved ones that will benefit from it, such as your parents, partner or children.
End of life planning is not an easy task; thus, the following six tips could help ease you into the process. To begin, an executor should be named. This is essentially the person that will take care of everything after you pass. They are also referred to as a personal representative, and they are tasked with locating all of your financial assets and communicating with everyone named in your will.
Next, you should take an inventory of everything you own. This means things with financial value and those with sentimental value. Third, you should consider health care decisions. A will designates what happens after you die, but an advance directive addresses your wish at the end of your life. A fourth tip is to name a medical proxy. This is the person that will make medical decisions for you if you are not able to do so.
Fifth, you should fill out a living will. This designates the type of care you want to receive at the end of your life. This could include the usage of pain medication, being ventilated or even resuscitated. Finally, you should consider the emotional and spiritual aspects of your death. This could mean detailing what will happen to your body after your death and what kind of service you would like.
Completing an estate plan can provide comfort and assurances; however, it is important to note that it is a constant work in progress. When certain life events happen, it may be necessary for you to update your current plan. This may seem like a taxing process; however, exploring your options could assist you in taking the proper steps to avoid potential problems with having an outdated estate plan at the time of your death or incapacitation.