Legal

1. Arrange your estate and finances

Depending on your circumstances, it's prudent to draft various legal documents delineating the management of your estate and finances in the future. Common documents include a will, durable power of attorney for financial matters, and a living trust.

• A will delineates the distribution and management of your estate—comprising property, finances, and assets—upon your demise. It also addresses arrangements for minors, adult dependents, and pets, along with provisions for end-of-life rituals such as funerals or cremations. Failure to have a will results in estate distribution according to state laws.
• A durable power of attorney for finances designates an individual to make financial decisions on your behalf in the event of incapacity.
• A living trust appoints a trustee to manage and distribute property and funds on your behalf when you're unable to do so.

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2. Plan for future healthcare

Many individuals opt to prepare advance directives, legal documents outlining medical care instructions in the event of incapacity to communicate wishes due to illness or injury. Common advance directives include a living will and durable power of attorney for healthcare.

• A living will communicates treatment preferences for emergency situations where you cannot voice decisions regarding medical care.
• A durable power of attorney for healthcare appoints a healthcare proxy to make medical decisions on your behalf. The proxy, familiar with your values and preferences, steps in when you cannot communicate your wishes.

Advance care planning involves preparing for future medical decisions and discussing preferences with loved ones.

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3. Consolidate important documents

Gather vital papers and legal documents in one accessible location, whether in a designated file, drawer, or notebook. Consider investing in a fireproof and waterproof safe for added security. Keep copies of documents stored in a bank safe deposit box in a home file for easy access.

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4. Inform a trusted individual or legal representative about the whereabouts of your important documents

While you need not delve into personal details, it's essential that someone trustworthy knows how to access your papers in case of an emergency. If you lack a reliable friend or family member, consider seeking assistance from a lawyer.

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5. Engage in conversations with your loved ones and medical professionals regarding advance care planning

Your doctor can elucidate potential future health decisions and assist in delineating the type of care or treatment you may prefer. Medicare offers free discussions on advance care planning during annual wellness visits, and private health insurance may cover these consultations. Sharing your decisions with family members helps prevent surprises or misunderstandings regarding your wishes.

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6. Authorize in advance for a doctor or lawyer to communicate with your caregiver as necessary

Granting permission for your caregiver to liaise with your healthcare providers, legal representative, insurance provider, credit card company, or bank can facilitate the management of your care. This process may entail completing and returning a form. Note that authorizing your doctor or lawyer to converse with your caregiver differs from appointing a healthcare proxy, who assumes decision-making responsibilities if you become unable to communicate.

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7. Regularly review your plans

It's crucial to revisit your arrangements at least annually and following significant life events such as divorce, relocation, or substantial changes in health status.

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Which documents are essential to have in place?

When organizing your affairs, it's imperative to compile and organize crucial records and documents in a single location. Typically, these encompass personal, financial, and health-related information. Remember, this serves as a foundational guideline, and you may need to include additional information pertinent to your situation. For instance, if you own pets, include details such as your veterinarian's name and address.

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Personal information

• Full legal name
• Social Security number
• Legal residence
• Date and place of birth
• Names and addresses of spouse and children
• Location of birth and death certificates and certificates of marriage, divorce, citizenship, and adoption
• Employers and dates of employment
• Education and military records
• Names and phone numbers of religious contacts
• Memberships in groups and awards received
• Names and phone numbers of close friends, relatives, doctors, lawyers, and financial advisors

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Financial information

• Sources of income and assets (pension from your employer, IRAs, 401(k)s, interest, etc.)
• Social Security information
• Insurance information (life, long-term care, home, car) with policy numbers and agents' names and phone numbers
• Names of your banks and account numbers (checking, savings, credit union)
• Investment income (stocks, bonds, property) and stockbrokers' names and phone numbers
• Copy of most recent income tax return
• Location of most up-to-date will with an original signature
• Liabilities, including property tax — what is owed, to whom, and when payments are due
• Mortgages and debts — how and when they are paid
• Location of original deed of trust for home
• Car title and registration
• Credit and debit card names and numbers
• Location of safe deposit box and key

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Health information

• Current prescriptions (be sure to update this regularly)
• Living will
• Durable power of attorney for health care
• Copies of any medical orders or forms you have (for example, a do-not-resuscitate order)
• Health insurance information with policy and phone numbers

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Who can assist with organizing your affairs?

Consider consulting with a lawyer to establish general power of attorney, durable power of attorney, joint accounts, or trusts. Inquire about fee structures before scheduling an appointment.You need not necessarily involve a lawyer in creating advance directives for healthcare. Most states furnish free forms, which you can complete independently. Explore options for completing an advance directive.Directories of local attorneys are often available online, or you can reach out to your local library, bar association, or Eldercare Locator for assistance. Your local bar association can also guide you on available free legal aid options in your state. Knowledgeable family members can offer support in managing some of these matters.

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What other decisions can you prepare for in advance?

Organizing your affairs extends to decisions concerning organ donation, funeral arrangements, and posthumous preferences. Communicating and documenting these choices can alleviate stress for your loved ones during difficult times and ensure your desires are respected.

Organ and Brain Donation

Registering as an organ donor allows your healthy organs and tissues to potentially benefit others in need. You can enroll as an organ donor during driver's license renewal or online registration. Some individuals also opt to donate their brain for scientific research purposes. Explore options for both organ and brain donation.

Funeral Arrangements

Proactively decide on the type of funeral or memorial service you prefer and its location. Determine whether you prefer burial or cremation and specify the handling of your ashes. Detail any religious, spiritual, or cultural traditions you wish to observe during these ceremonies. You can make arrangements directly with a funeral home or crematory. If you opt out of embalming or cremation, most states permit families to manage transportation, body preparation, and related arrangements. Document your preferences and distribute copies to loved ones and, if applicable, your attorney.