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Key Considerations When Creating An End of Life Plan It is normal to see families going through disputes when a loved one is in a critical condition or their death bed. Therefore, preparations eliminate the potentials of family disagreements, confusion, and unnecessary financial pressure and this will give you peace of mind. Your family will definitely thank you for sacrificing your time to write down an end of life plan by celebrating your legacy and memories of your life. Firstly, end of life planning will ensure that you are in charge of your medical decisions when you are mentally incapable and you cannot communicate. A solid end of life plan includes life support decisions, financial issues, organ donation, property division and funeral arrangement. Include your decision on whether the doctor should put your life support for an extended period or resort to dangerous procedures. Making this decision will save your loved ones the guilt and emotional stress of choosing whether to put your life in danger or put you on life support. On the other hand, you can choose to use a health proxy which is a document used to appoint an agent to make decisions on your behalf in the events when you are not able to talk. Also, if you have strong beliefs, it is important to explain in writing how your body should be handled plus whether it should be cremated or buried to ensure that your final wishes are met. Many families are uneducated when it comes to burials; hence a will, trust or end of life plan will guide them on what to do.
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It is essential that you talk to your physician and inquire more about your illness to help you make informed decision. Also consult with your lawyer to determine the best way to transfer property and authority.
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A financial advisor will protect you and your loved ones by implementing strategies to eliminate or reduce tax burdens as well as guide you on the best financial plans. The financial advisor should guide you in making the correct decisions concerning your investments, college planning, retirement planning and estate planning. It is also the role of a financial advisor to protect you and your loved ones against financial disasters by implementing strategies such as annuities, long-term care insurance, car and home insurance. Things like taxes, health, age, and final wishes keep changing and it is therefore important that you update your end of life plan at least after every two years. It is also important that you brief people that you trust like your spouse, parents and children about your end of life plan. Entrusting the end of life plan with a few loved ones will help ensure that someone will be out there to oversee that everything goes as planned.