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Why is end-of-life planning important?

On Behalf of | May 16, 2023 | Estate Planning

In estate planning, it is common to write down your wishes for your final days, including medical care, funeral and burial arrangements. This tool is called an end-of-life plan. While creating this plan might seem dramatic at first, especially if you start young and healthy, it actually has several benefits.

Lifting a heavy burden from your loved ones

If a day comes when you can no longer express your thoughts and wishes due to a disability, an illness or old age, your family will have to make decisions on your behalf. And it can be tough and emotional, to say the least. It can also create conflict between family members about what would be the best decision.

With an end-of-life plan, your family can stick to your written preferences, knowing that that is what you would want. While it will continue to be an emotional time for them, the plan can smoothly guide them through the process.

Continue managing your health care finances through another person

You can use an end-of-life plan to choose someone to manage your health care finances if something happens to you that prevents you from continuously managing them on your own. This includes choosing the appropriate hospital or medical care facility, paying your medical bills and ensuring the medical professionals follow your chosen medical interventions and measures. Your designated representative can also look into possible financial assistance for your medical needs.

When end-of-life planning, you need to prepare the necessary documents to solidify your plan. This includes your will or trust, health directives, funeral and burial arrangements and other tools that align with your estate planning goals.

Planning measures and writing down preferences for your last living days can be challenging and uncomfortable. But knowing its benefits, especially for your loved ones, will help you appreciate the importance of end-of-life planning.