If the thought of preparing for your or your parents’ eventual death is overwhelming, there are a few steps you can take to make the process less stressful for everyone. One of the easiest ways is to start by making a list of things they have, don’t have in place or should consider. There are many online resources, and here is a good start:
Financial
- Bank accounts and financial institutions
- Pensions, 401(k) information, brokerage accounts
- Property deeds
- Outstanding loans, credit cards, mortgages
- Insurance agent and policies
- Last will and testament or other estate planning documents (living trust, etc.)
Healthcare
- Healthcare directive
- Power of attorney
- Medicare, VA or other insurance information
- Emergency information plan
- Medication
Living Options
- Long term care insurance
- Able to maintain own home by self or with assistance
- Tour senior living options
Other
- List of passwords and log in information for online accounts
- Funeral plans (use pre-planning services)
- Create document that states where all of the above are kept
Your list may look totally different. It may be shorter or a lot longer. The main thing to remember is to start.