For many Ohio residents, the thought of creating an estate plan for the time following their death may not be their first priority. However, neglecting the important task of putting financials in order and articulating last wishes can leave family members scrambling and confused after a loved one has died.
According to the Huffington Post, people wishing to be proactive about planning their estate can benefit from remembering three simple suggestions. These include the following:
- Budget for post-death expenses: What many people may not realize is how much money it costs to plan and execute a funeral. Careful financial planning can enable family members to make effective decisions following a loved one’s death without experiencing the emotional stress that is the result of monetary strain.
- Take a proactive planning approach: For a lot of people, choosing to wait on creating an estate plan may appear ideal if death does not seem too threatening. However, a proactive attitude and organized method for articulating a will is an excellent way for an individual to make the lives of family members less difficult following his or her death. Often, with less serious decisions to be made, family conflict, anger, disagreement and intensified grief can be lessened.
- Keep directions clear: For people wishing to give specific personal possessions to designated heirs, it is imperative that their directions are clear and understandable. With their efforts to leave no decision to personal discretion or interpretation, they can be confident that after-death outcomes are just as they desire.
Forbes reports that of all Americans aged 45 to 54 years of age, 62 percent have not drafted a will yet.