Lucy - BQ Magazine EditorWhile it can be depressing to think about passing away, it is a natural part of life. Should you own assets and want to ensure they are cared for by the right people after you go, you need to consider organising them sooner rather than later.
The sooner you organise your assets and the more you understand about what to sort, the more seamless the process will be. Here, you can discover the important things to get sorted before you pass away.
1. Write a will
Writing a will is essential if you want to ensure your assets will be handed over to the right people when you pass. Without a will, your assets can be taken advantage of.
You can hire a will writing specialist to help with this. It is recommended to use a professional and not write your will alone. They will help you understand what you can include and how things will work after you are gone. Sharing all of your asset information with them will ensure nothing is forgotten about. You are entitled to leave your assets to whoever you wish to, which is another reason why you should create one. You don’t want your loved ones fighting over what they feel they are entitled to.
2. Organising what will happen to your home
Property is likely your most valuable asset (financially). Hence, it is useful to organise what will happen to your home in the future. While creating a will and focusing on other documents needed to pass on your belongings successfully, consider smoothly transitioning the ownership of your home. If you have someone in mind, it is wise to consider transferring on a death deed.
Setting up a Transfer on Death Deed is wise if you wish to pass on your home to a loved one after you pass and ensure they don’t need to deal with probate. You can request for your home to be passed on to a beneficiary so that you know it will be in safe hands and a loved one can enjoy it.
3. Communicate your wishes with loved ones
While your writing will be private, there are things you can share with loved ones. They need to know your wishes before you go. Otherwise, they will have to guess and might fear getting it wrong.
Communicating your wishes regarding your funeral and what to do with certain personal items will help them understand and respect your decisions. While it is morbid to consider, it needs to be done to guarantee your wishes are fulfilled.
4. Write and fulfil a bucket list
There are many worthwhile things to do before you die, so let’s make this slightly more cheery and speak about bucket lists. If you don’t have a bucket list, this is your sign to create one. A bucket list will help you tick off things that you have always dreamed of pursuing.
Whether you want to skydive, complete a course, or meet with an old friend, anything can be added to your bucket list. They are personal and ideal if you want to fulfil every wish. Writing the ideas down and ticking them off along the way will help you know you have fulfilled your dreams in life before the time comes.
5. Managing your debt
If there are many signs suggesting you are in too much debt, this is something you will want to sort out before you pass. You don’t want to leave it to your loved ones to deal with.
To deal with debt, it is important to consider your current financial situation and understand what assets you can sell or use to pay off your debt. Seeking advice from a financial advisor will help you make the right decisions and reduce your debt significantly. If you have enough time, you might be able to wipe the debt completely so that nobody else needs to deal with it in the future.
While you would hope that debt would be wiped after you pass, that isn’t the case. It still requires paying. Hence, manage it before sorting a will to ensure minimum issues.
6. Address your health and final decisions
It’s compassionate to make decisions on your healthcare and final desires in advance for the people you love. It gives you clarity when things are emotional and relieves the pressure of speculating about what you might want in tight circumstances.
It is advisable to draft a living will that specifies your preferences for medical treatment in the event that you become unable to communicate for yourself. Additionally, you can name a medical power of attorney or healthcare proxy – someone you can trust to make medical decisions on your behalf in the event that you are unable to do so.
Talk to your family and your healthcare professional about your wishes for palliative care, organ donation, and life-sustaining therapies. By doing this, you may be confident that your wishes are respected and that people around you are able to make decisions.
7. Write personal messages to loved ones
Writing letters or leaving messages for your loved ones is a very personal and significant undertaking. These letters can continue to provide consolation, guidance, and inspiration long after you’re gone. You can opt to tell your close friends and family stories or recollections, write letters to your kids on important occasions, or just tell them how much you love and appreciate them.
Even after you’ve gone, these notes or messages can bring comfort and act as a treasured remembrance of your presence. Think about what you want your loved ones to remember, and express your feelings meaningfully and sincerely.
8. Leave an impact
Many people find contentment in knowing they have left a meaningful legacy or made a positive influence, even above and beyond worldly belongings. This can take many different shapes based on your interests, skills, and values. It could be carrying on a family tradition, donating to charities that align with your values, or giving back to the community by mentoring or volunteering.
Ethical wills, which are non-legal writings outlining your beliefs, life lessons, and wishes for future generations, are another way to leave a lasting legacy. They allow you to impart to your family or community the values, ideologies, and guiding concepts that are important to you.
9. Repair relationships and make amends with people
Unresolved disputes or strained relationships can cause mental distress as life draws to an end. Seeking forgiveness and making apologies is one of the most important things you can do before you pass away. Both you and the people concerned may get emotional relief by making an effort to patch up damaged connections or by extending an apology.
Likewise, inner peace can result from forgiving people who have wronged you. When you let go of grudges and animosity, you can concentrate on making more meaningful connections and pass from this life with a sense of harmony and closure. Rebuilding relationships can lessen the emotional strain on all parties, whether through letter writing or unpleasant in-person discussions.
10. Spend quality time with your loved ones
The memories you make with the people you care about will be what matters most in the end. Make it a priority to spend time with loved ones so that the days you have left are full of happiness, intimacy, and affection.
Tell the people in your life how much they mean to you. When the opportunity arises, show your gratitude and affection and savour those times completely. Now is the perfect moment to cherish the connections that are most important to you and to fortify them before you depart.