Things You Can Influence About What Happens When You Die
Some of the most important things that happen when you die are things you cannot control. For example, you cannot control who is appointed legal guardian of your minor children. However, you can influence the courtís decision on guardianship by naming a guardian in your will.Also, you cannot control where you will be buried or where your ashes will be scattered, but you can make your final arrangements in advance, purchase a burial plot, prepay for final arrangements, and leave written instructions for your funeral and burial in a last wishes document. In some states, you can appoint an agent to carry out the disposition of your remains.
The following is a list of things you can affect or influence about what happens when you die:
1. The legacy you leave behind. See legacy planning.2. Who becomes the guardian of your minor children. See guardianship.3. What type of funeral or memorial service is held, including whether there is a public or private viewing.4. The manner of disposition of your remains, including the choice of burial or cremation, and location of burial.5. The amount of work your executor or trustee must do to settle your estate and wind up your affairs.6. How you are remembered by others.
Things You Can Control About What Happens When You Die
While most of what happens when you die is out of your control, there are several very important things you can control about what happens when you die, including:
1. Who receives an inheritance of your money, property, retirement accounts, personal possessions, and other assets.2. How much money or property is part of your estate.3. Whether the administration of your estate is supervised by a probate court or instead passes privately through a living trust, another type of trust or through nonprobate transfers.4. What happens to your pets and other animals.5. Whether your funeral services are prearranged, prepaid or purchased in advance.6. Whether any individuals or organizations will receive life insurance proceeds from a policy you purchased.7. Whether college funds will be available for your children.8. The selection of the executor of your estate or trustee of any property you hold in a living trust or other type of trust.9. Whether your estate will pass in a way that reduces liability for estate taxes or gift and generation skipping transfer taxes.10. Whether any restrictions or limitations apply to inheritances left for your children or grandchildren.
11. Whether your surviving spouse inherits your separate property or your separate property passes to other beneficiaries, such as your children. See spouses and partners.12. Whether the person you want to serve as guardian for your minor children receives detailed instructions from you about their care. See child guardian letter.13. What happens to your family memorabilia.For information on how to exercise control over any of the matters listed above, see estate planning books.Copyright 2020 Pennyborn.com. ALL RIGHTS RESERVED.
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