Three Steps to Handling End of Life Planning

If you have recently received a medical diagnosis, it’s important to realize that your estate planning cannot afford to wait. Often, a bad medical diagnosis can cause significant issues in your family if you have not done enough of the planning well in advance. Three steps are outlined in the short blog series about tasks that you must tackle in the end of life planning process. Be clear about how to organize the most important facets of your financial life.

Make a List

It may be uncomfortable or awkward, but you may need to rely on a social worker, a therapist and an array of experienced professionals to help you with the planning process after receiving a bad diagnosis. Many things that have been kept under the surface with regard to your planning can suddenly boil to the surface when a sudden medical diagnosis occurs. Ensure that you are organized. Keep all of your financial details in one specific place. A notebook that you can turn back to on a regular basis such as a binder where you can add additional paperwork is extremely helpful. Having everything in one place enables your relatives and your agents to avoid struggling to find things.

When things are tied up quickly due to a sudden incapacitating event or death, your loved ones are ready to take action. One of the first and most important steps you can take to protect yourself and your loved ones is beginning with a will. If you do not already have a will, now is a good time to talk directly with an experienced estate planning lawyer.

A lawyer will be able to advise you about all of the issues to consider when putting together your most important estate planning document. If all of your belongings have been given away and you have a beneficiary on all of your other assets, you might not need a will but it is strongly recommended that you use a will as a catch-all document.

Talk to a Pasadena estate planning attorney today to learn more.

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