We have pre-paid our burial niches and also the costs for cremation. My wife’s parents had done this and it eliminated a lot of the decision-making, pressures and guilt upon their deaths. Pre-payment made sense for us because we are settled and plan on staying together until death due us part. I wouldn’t recommend it for a young couple.

LegalZoom is probably the best and most cost-effective way to get these things taken care of (with the exception of a trust, which I think may be too complicated for that site).

For those who have no dependents or “loved ones,” you need to think not about your death but about what is very much more likely, statistically – disability. If you are 25 and in a horrible car crash, you are much more likely to be seriously disabled than killed. You need to get your stuff together.

Accidental death and dismembership insurance is available from many banks as a perk of holding an account, for rates as low at $10 for a half-million in coverage. Disability insurance is part of some states’ payroll taxes – if it’s not in yours, look into buying some.

You may not care about the government dealing with your “estate” if you have no assets, but I assure you, you will care if Social Security (US version) is all you have to live on if disabled.

I don’t know about you, but I don’t want to be keep alive as a vegetable after a few doctors agree there is no hope for a meaningful recovery . . .

Preferred Financial Services

Someone who is elderly and ill may want a DNR, no ventilator and all that, but what if you are involved in a trauma that is heal able? The medical professionals may know that you can be treated and have a good life. Some living wills say if you are in a coma for three days, pull the plug.

Don’t be too hasty to check out!

http://shari-mattingly-bevan.com/blog/?cat=3

Lurker carl – when I set up a will years ago when my dd was a minor, setting up a revocable family trust for her benefit (in Texas, anyway) was simply a matter of naming it in the will – the ‘funding’ would have been the estate when I passed away.

When someone holds a power of attorney for health care, the family or hospital should not be able to override, and you need to tell the person you’ve named them (& give them a notarized copy) so there isn’t any foot dragging on notifying you. This is separate from a living will (which would be enforceable by the person holding power of attorney).

It sucks. Don’t be me.

I am currently dealing with this issue with a relative and something to note is that beneficiaries listed on an account take precedence over a will so be sure those beneficiaries are in order. If you don’t own any titled items (i.e., real estate) you really wouldn’t even need a will if all your accounts have beneficiaries listed. Then, any individual items (i.e., jewelry) you want to bequeath can simply be written on a piece of paper, signed and witnessed and left with someone you trust.

And do not forget a Durable Power of Attorney and Medical Proxy!

Everyone assumes they will die quickly. But, a long illness can require help. I had medical power of attorney (done at the hospital bedside as she was dying) which allowed me to work with the doctor on her care. Since she did not have a will, and we did not have time to do the legal power of attorney (she was very sick, very quickly), I could not help with other major issues that came up.

Although she had few possesions, she took the time to write out her requests on a piece of paper. She called it her “will”. She wanted her friends to recieve certain items, and her grandson to recieve some funds. Those wishes were not followed at her death. I had no legal recourse to stop the family from doing what they wanted with her jewelry, her money, and her cat.

The living will was also not viewed as important by hospital
staff, because as another person said, it can be easily
overridden.

If one is single, and not close to ones family, it is very important to decide on a friend who you would want to help, if you are unable to make decisons for yourself.