10 Steps to Your End of Life Financial Plan

Planning how to manage the costs for your final care and services, protecting assets and providing for loved ones after you pass away is an invaluable gift to your family. Here are 10 steps to help you create your End of Life plan:

1. Gather documents and inventory finances
Identify your personal assets (what you own) and your liabilities (what you owe). Consider property, insurance, financial accounts, etc.
2. Identify assets and valuables
Locate all assets of potential value, including contents of safe deposit boxes or storage units
3. Appoint personal representatives
Appoint one or more person you trust to manage your medical and financial matters if you become unable, and to carry out your final wishes after you pass away
4. Consult with advisors
Talk with experienced financial and legal professionals to help you better develop your End of Life plan
5. Review benefits
Review your personal resources, healthcare, long-term care and life insurance plans and government programs to assess values and check benefits

 

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