Smart Retirement: Set Up a Living Will
Thursday, July 14, 2016
Although no one likes to be reminded, life is unpredictable. And while we all hope to live to a ripe old age, not everyone is so lucky. Because we can’t predict the future, it’s wise to protect our assets and get important decisions on paper, just in case something should happen to us.
Here are some good reasons to set up a living will right now, regardless of your age or the status of your health.
Gives You a Voice When You Can’t Communicate Your Wishes
A living will communicates your wishes when you can’t do it yourself. It’s very hard, impossible even, for others to guess what you would want in any given situation, and if you can’t be asked or if you haven’t written out your wishes, that’s exactly what the people in your life will have to do.
Keeps the Peace in the Family
Everyone who loves you will have an idea of what you would be best for you and your assets—and it’s very likely that all of the ideas will be different. Heated arguments and family feuds can break out when well-intentioned loved ones try to make decisions for someone else. By writing out your wishes, you’re saving your family members from unnecessary stress and anguish over making impossible decisions.
You’re Still In Control
Even at the end of life it’s good to have as much control as possible. If you know you won’t want certain decisions made on your behalf, it’s important to have that in writing. You can maintain control over what happens to you until the end of life, and what happens to your assets after you’re gone, as long as you make it clear in writing.
Peace of Mind
Maybe the best reason to set up a living will is that you can rest easy. Knowing that your wishes will be honored, that your family will be taken care of, and that no one will have to bear the burden of making impossible decisions for you is reassuring when we imagine the unknowable future.
If you’re interested in learning more about how to retire smart, give our office a call today. There is never a charge for consultations or advice.