Financial Concerns for
death and dying
Understanding what you need to do BEFORE a crisis occurs can give you more options when bad things happen.
Death
What will happen to the people who depend on you, when you die? Will you leave them enough to pay for your funeral and medical bills? Will they be able to afford to stay in their current home without your income? Will they know what your final wishes are?
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Dying
Estimates are that as much as 85% of an individual’s lifetime healthcare spending occurs in the last six months of life. What kind of care do you wish to receive at end of life? How are you and your family going to pay for it?
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Dying well
Should the same person be entrusted with making your medical and financial decisions when you are dying? What kind of power do you want them to have? Have you made clear to them your wishes, guiding principals and boundaries? What steps have you taken to ensure your wishes can be achieved?
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some Financial items to consider:
Life Insurance
Term or Whole? How much do you need? Can your family afford to pay for the end of life expenses beyond your funeral, like healthcare and associated expenses, and fees?
Funeral PrePlanning
Give your family the luxury of focusing on their grief by planning and funding your funeral and final disposition in advance. Save money by not making emotional decisions.
Wealth Planning
Proper estate planning includes methods to build and transfer generational wealth efficiently.
Medical Insurance
What kind of coverage do you have? Are you covered for things like long term care, extended home care and hospice?
Professional Concerns
Are there employees who depend on you for getting paid? Do you want to enable your partners to buy out your spouse, or enable your spouse to receive income from your business after you pass?
Agent of Disposition
Who do you want to be responsible for decision-making around your funeral and final disposition? Do you have a budget for them?
The latest: financial
Talking about death over dinner
Talking about death isn’t easy. Some people just can’t do it because fear, superstition, manners or something else gets in the way. While it’s easier
When is it time to start planning?
I’m Michelle Carter, your End of Life Coach here to answer your most frequently asked questions. When is the right time to plan for end
Storytime: Left With Nothing
“realized my husband didn’t leave me anything. All of the beneficiaries for all of his life insurance and stuff is going to his kids. So I’ve lost 60 percent of my monthly income and have no insurance proceeds to backfill my finances. Which means I have to sell this house immediately. “
Storytime: The Old Divorce
You and your spouse decide to get divorced. It’s amicable, you create separate households, you separate your finances, the kids are fine. You just never get around to doing the legal part of getting a divorce. What’s the worst that can happen, right?
Storytime: Life Insurance Through Work
Moral of the story: Don’t depend on anybody else to protect you. Get insurance for yourself.
A funeral director goes above and beyond- Part 1
So this gentleman and his son come in and this gentleman is not happy. He is not happy to be talking about his death and his funeral, he’s not happy to be in a situation where he is selling his home in order to go into a nursing home.
A Funeral Director Goes Above and Beyond- Part 4
Not all of us have the luxury of knowing that we’re going to have a need for things like funeral arrangements and legal documents and financial arrangements. By making them in advance, things are there when you need them, so that when a death unexpectedly occurs, as it did in this scenario, you’re protected.
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Don't leave your legacy up in the air- take steps now to preserve your assets, and provide a clear direction for those you leave behind.