Many people spend a lot of time planning life experiences they want to do before they die. However, what should be your highest priority is planning your personal and financial affairs after you’re gone.
Taking the necessary steps before tragedy strikes may help your loved ones with making difficult decisions such as planning your funeral, your wishes for end-of-life care and what happens to your assets.
Put it all down in a will
Setting up a will allows for financial peace of mind for those you leave behind.
Drawing a will allows you to choose heirs who will inherit your assets when you die.
Without a will, the law of intestate will determine the heirs of your estate.
Contrary to belief, you don’t have to own a house to have an estate. An estate refers to everything you own from your home, personal property and bank accounts to your retirement plans and investments, etc.
It’s advisable to consult a reputable financial service provider when drawing up your will for expert advice.
A living will or an advanced-care directive is a declaration giving a person of your choosing medical power of attorney.
This allows them to carry out your wishes regarding medical treatment if you’re medically unfit to do so yourself.
In many cases, a living will provides a decision where there is no likelihood of recovery, e.g., if you’d like to be put on life support.
Having a living will takes the burden off your loved ones from making tough life and death decisions on your behalf.
Make provision for a funeral
Funeral costs can quickly accumulate and sometimes leave those grieving with added stress.
That’s why it’s crucial to sign up for a funeral plan before your death.
A funeral plan will provide loved ones with the necessary funds to plan a funeral to honour the deceased.
At GetSavvi Health we offer funeral cover on all our healtcare plans with cover up to R10 000 per family member. To find out more about our health plans and funeral cover, click here, fill in the form and a GetSavvi Health consultant will be in contact soon.
Choose a guardian
Choosing a guardian is crucial when you have children who are still dependants.
A guardian will take care of your children and make financial and personal decisions for them when you’re not there anymore.
Tell those closest to you that you love them
Telling friends and family that you love them may be the greatest comfort you leave them when you’re gone. So don’t be afraid or hesitant to share it as often as possible. Life’s too short not to say “I love you.”