Planning Ahead

By Author: Lecia Selbo
Total Articles: 49
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None of us enjoy contemplating the end of our lives. For many of us, however, it is simply an essential part of taking responsibility for the loved ones who depend upon us for their basic needs and their livelihood.

If you are feeling a little intimidated by the prospect of having to make the appropriate arrangements to ensure the wellbeing of your family in the event of your death, here is a quick list of important factors to consider to ensure that you have covered all the major bases.

It is vital to have a will in place. This document should be discussed in detail with your solicitor before being finalised. Not only is it important to make the right arrangements for the distribution of your greatest financial assets, it is also vital to state the names of the right family friends or next of kin who are to take over responsibility of your dependents.

Your will may also dictate the appropriate arrangements for the care of your children. If you decide to give this enormous responsibility to one of your friends or another family member it is crucial that you gain their agreement prior to finalising your will.

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... life insurance policy is a good idea for anyone who has children or elderly or infirm relatives depending on their livelihood for their basic needs. If your income is required for the survival of more than just yourself, you might want to think carefully about protecting this income with the appropriate kind of insurance, so that whatever happens to you your loved ones will be able to continue living a comfortable life.

It is also important to think about your own funeral arrangements, too. You could simply discuss matters with those who are most likely to be given the task of making these kinds of decisions in the event of your death. Or if you prefer to avoid this kind of conversation, you could include directions for your funeral arrangements in with your will when it is drawn up by your solicitor.

Sometimes the cost of funeral arrangements will come under your life insurance policy. This might be something to check out and enquire about as you select the right life insurance policy for you.

Of course making these kinds of arrangements will never be a pleasant task, and some people will find it a real strain. However, take comfort in the fact that you are taking care of those who depend on you and providing them with a more secure future. Lecia Selbo had Legal