I will be the first to admit it. I hate to think about death. The thought of losing a loved one makes me sad. However, one thing I do know is that one day we must all go. And since we know that in life there are two things that are certain – death and taxes, we have to be certain to have a plan in place for the unthinkable.
So, how do we prepare for the day when we all must meet our Maker?
Create a will
As I watch the news and see Bobbi Kristina fight for her life my mind immediately wonders what would happen to her assets if the unthinkable happens. I also wonder if something is set in place for her. But then my thoughts wander to my own situation. Have I done all that I can to make certain that when my day comes that my family will know my every wish?
This can only be effectively communicated through creating a will that outlines our wishes.
Plan for your funeral expenses
If you leave your family in the dark about your final funeral plans they can be left not knowing how to pay for your expenses. A typical funeral can cost a family on average $10,000. Therefore, if you have not successfully put a plan in place for these expenses you will be leaving a burden on your family.
Depending on your needs, consider setting aside funds or obtaining a life insurance policy to ensure these expenses are covered.
Explain your wishes in a living will
Lastly, it is important to consider a living will. A living will lays out your wishes in the event you are incapacitated and are able to communicate your wishes to your health care providers. This will provide your doctors your desire to continue to seek prolonging life treatments or simply forego it.
Remember: your choice, your future!
Kemberley Washington is a certified public accountant and professor at Dillard University.