When people think about estate planning, they usually focus on who will receive their money and property when they pass away and how it will be received. However, estate planning can also address your end-of-life wishes—the considerations and expenses involved when it is time to say goodbye to your loved ones. The following are essential questions; the answers are critical to creating a comprehensive estate plan.

How Do You Want Your Remains Handled at Death?

Addressing your final wishes for your body may be uncomfortable, but planning can save your loved ones time and give them peace of mind, knowing that they are carrying out your wishes. There are many standard options available, such as

●     being buried in a casket,

●     being cremated, or

●     donating your body or organs. 

Alternatively, some people choose more unique ways to dispose of their remains, such as turning them into diamonds.

Depending on your state's laws, these wishes may be included in your last will and testament, healthcare power of attorney, advance directive, or a separate document.

Do You Want a Service or Celebration?

When it comes to commemorating your passing, a variety of options are available to achieve your specific wishes.

Funeral

Some people prefer to plan a more traditional funeral at their place of worship, complete with music, scripture readings, and a meal afterward. A funeral can also include a gathering before the church or graveside service. The focus of the funeral is to allow your loved ones the opportunity to mourn your passing. 

Memorial Service

A memorial service can be formal, like a funeral, but the deceased's remains are typically not present at a memorial service; instead, photos of the deceased are displayed. However, a memorial service can also be informal, similar to a celebration of life.

Celebration of Life

“Celebration of life” events are an increasingly popular way to celebrate life experiences and accomplishments. Pictures and videos can be displayed during the event as your loved ones tell stories about you. The celebration can be tailored to reflect your personality and highlight what matters most to you.

Nothing

You may decide that you do not want a funeral, memorial service, or celebration. This could be for many reasons: you may not have many friends or family who could attend a local service, but you prefer to avoid funeral expenses. You would rather have your money pass directly to your loved ones, or you are a private person who does not want the details of your passing shared with the public.

It is important to note that documents with instructions for funerals, celebrations, or the disposition of your remains may not be legally binding in your state. Every state has different rules. However, by letting your loved ones know your wishes, they can use that information when making decisions for your final arrangements.

Do You Have a Final Message?

While you may focus on the official documents that address your money and property, such as a last will and testament and trust, when creating your estate plan, you can include documents with personal messages to help you say goodbye to your loved ones. 

Letter

If you love to write or find it easier to communicate through writing, leaving a letter to your loved ones can allow you to convey your wishes and last sentiments thoughtfully. If the information you want to communicate is the same for each person, you could write one letter to all your loved ones. Alternatively, you could write a separate letter to each loved one if you have specific things to say to each person.

In these letters, you can discuss your relationship and valuable lessons learned and provide advice and guidance to future generations. Not only will the information in the letter be meaningful to the recipient, but it will also provide them with a tangible gift to help them through the mourning process that can be saved for years.

Video

Another way to speak from your heart is through video, which can allow you one last opportunity to talk to your loved ones. Just like writing a letter, you can address friends and family as a group in one video or address each person with individual videos. Videos can convey the same information as a letter, giving the recipient the added joy of hearing you speak and seeing your face.

How Will You Pay for Your Final Expenses?

Depending on the extent of your end-of-life wishes and the anticipated cost, there are many ways to allocate money to cover these expenses.

Funeral Trust

Although a funeral trust is uncommon in some jurisdictions, it may be an option. A funeral trust holds money for funeral costs until you pass away. Then, at your death, the trustee pays the beneficiary (typically the funeral home providing services) with the funds held in the trust. A funeral trust allows you to set aside money to cover the following expenses:

●     casket or urn

●     burial vault

●     cemetery plot

●     embalming or cremation

●     funeral service and accompanying gathering

●     obituary

●     death certificate

Final Expense or Burial Insurance

Final expense or burial insurance is a type of life insurance policy purchased to pay for funeral costs, medical bills, and other end-of-life expenses. It usually pays a small death benefit, such as $5,000 to $25,000, to cover funeral expenses rather than provide support for loved ones.

Separate Savings Account

Finally, if you have enough financial resources, you could set aside money in a savings account to pay for your end-of-life expenses. The savings account would be in your name and have a trusted individual as the payable-on-death beneficiary, who would then use the funds to pay for your final expenses.

 We understand that planning for death is not easy. Our attorneys can help ensure that your wishes are carried out and your legacy lives on. Call us to begin a thoughtful discussion about your end-of-life wishes and expenses.

Contact Hartmann Law Today

If you have questions about final arrangements, contact our office to speak to an estate planning attorney.

Take steps to start planning your Life and Legacy today!  Take action to ensure your voice is heard when you are unable to speak for yourself.  Decide to protect yourself, your loved ones, your business, and your property.   

Schedule a call today with Hartmann Law.

Hartmann Law provides life and legacy plans ready for today with an eye on the future.

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