Five Formalities You Can Take Care Of Today That Can Take A Load Off Loved Ones Later
It is never too soon to organize or plan for the inevitable. Waiting to deal with financial matters or final wishes could result in a lot of headaches and stress for those you leave behind. There are five simple and super helpful tasks that you can take care of today, and that will make things a lot easier for your family in case of an emergency or untimely death.
Five formalities to deal with today include:
Get your jewelry and valuables appraised
Before you designate valuables and belongings for your family and friends, it makes sense to get these items appraised. This is also a good time to re-evaluate the insurance that you currently have on these pieces, to ensure that they are covered in the event of damage, loss, or theft. Get your jewelry appraised and keep the copy of the appraisal with the item, preferably in a safety deposit box. Contact a company like Certified Gem Lab for more information.
Revisit your insurance policies
Since you will be reassessing your current coverage for your valuables and jewelry, this is a good time to beef-up or evaluate your life insurance coverage, too. Talk with an insurance representative about both whole life and term-limit policies to find the best solution for your situation. This will ensure that your family is taken care of when you pass on.
Rent a safety deposit box
The best place for your important papers and small valuables is a safety deposit box at your local bank or financial institution. These are protected from theft, fire, and even the incidental misplacement that can occur when individuals attempt to keep documents safe in the home. The cost for these rentals is low, and loved ones will know exactly where to go to find what they need in the event of your passing.
Notarize important documents
Even if you take time to prepare documents, such as a will or last testament, it won't stand up legally unless you get it notarized. Notaries are often working in law offices, motor vehicle departments, and banks, and the cost for a witnessed document is very low. Make a point of getting any legal papers notarized, including a will, so that they can be legally binding at the of your death.
Begin making final plans
If you really want to take a load off of loved ones, begin prearranging your funeral. This can be as simple as outlining what you want and putting money aside, or it could be as elaborate as working with a funeral director and writing your own obituary. Making your wishes known takes the tough decisions off of your family when the unexpected happens.
Nobody wants to think about making funeral plans, yet there are some simple things that you can do now that will make it far easier for family members when you do pass. Don't delay. Taking care of these five areas today will provide a new sense of organization and feeling of preparedness moving forward.