Preparing Family for Passing: Insurance, Will, Funeral Planning
Preparing Family for Passing: Insurance, Will, Funeral Planning
While the subject may seem a bit morbid to some, the fact is that many people take steps to prepare their family ahead of their potential death, even if said death is not imminent. We never know what can happen, and having a few basic preparations in place in case the worst happens is the prudent thing to do with your family in mind.
At McDougal Funeral Home, we're here to assist with several related areas here, including advanced funeral planning and pre-planning services that help many people make these simple arrangements -- meaning their family will not have to go through this process in the event of their passing. What are some of the important areas many people cover to ensure their family will not be in a tough position, financially or otherwise, if they pass? This two-part blog series will go over several simple areas to consider.
Life Insurance
One of the single most important preparations you can make is to have an up-to-date life insurance policy. This provides your loved ones with a financial cushion in the event of your death, and it's important to have one that will cover funeral and burial expenses.
It's also important to designate a beneficiary for your life insurance policy. This is the person who will receive the payout in the event of your death, so be sure to choose someone you trust to handle this money responsibly. You can typically name more than one beneficiary, and you can also change the beneficiary at any time if your circumstances change.
Wills and Trusts
Another key preparation is to have a will or trust in place. This document can spell out your wishes for how you want your assets divided up in the event of your death. It's important to keep this document up to date, as your circumstances may change over time. You may also want to designate a power of attorney, which is someone who can make financial and legal decisions on your behalf if you're unable to do so yourself.
Funeral Plans
Many people also choose to pre-plan their funeral arrangements, which can take a lot of the burden off of their loved ones in the event of their death. This gives your family some say in how you're ultimately laid to rest, and it can also help to keep costs down. You can usually pre-pay for your funeral arrangements as well, which can further ease the financial burden on your loved ones. The combination of reduced financial stress and the ability to honor your wishes can be a great comfort to your loved ones during this difficult time.
These are just a few of the important preparations you can make ahead of time to help your family in the event of your death. At McDougal Funeral Home, we're here to assist with all of your funeral planning needs -- contact us today to learn more about your options or any of our other caring services.
