Estate Planning Attorneys

Preparing for Your Death and Estate Planning
by Douglas Gibson

We’re all dying, not one of us can escape it. Not one. Let’s talk about it…
I learned a lot losing mom and dad, both suddenly and unexpectedly.
I learned more about the documents below than I ever wanted to know.
Feeling like a “grown-up” this weekend having completed all of them for
myself. Tim has also completed them.

Several friends and family have asked what I’ve done for myself after
going through the process of burying both parents, having to empty
and sell their home. Well, the documents below are just a start.
They’re also not near as expensive to have completed as one would think.
 
Important things I’ve learned and would encourage all of
my friends to do ASAP:

- Make sure all bank accounts have direct beneficiaries. The
beneficiary need only go to the bank with your death certificate and
an ID of their own.
- TOD = Transfer On Death deed if you own a home. Completing this
document and filing it with your county saves your heirs THOUSANDS.
This document allows you to transfer ownership of your home to your
designee. All they need to do is take their ID and your death certificate
to the county building and the deed is signed over. Doing this will avoid
the home having to go through probate.
 
- Living Will: Allows one to put in writing exactly what you want done in
the event you cannot speak for yourself when it comes to healthcare
decisions

- Durable Power of Attorney: Allows one to designate a person to
make legal decisions if one is no longer competent to do so.
 
- Power of Attorney for Healthcare: This document allows one to
designate someone to make healthcare decisions for their person.
 
- Last Will and Testament: Designates to whom personal belongings
will go too.
- Funeral Planning Declaration: allows one to say exactly one’s
wishes as far as disposition of the body and the services.

- If the above documents are done, at least in MI and Indiana, you
can AVOID probate. If all the above is not done, you have to open
an estate account at the bank. All money that doesn’t have direct
beneficiaries goes into this account. You have to have an attorney
to open the estate account. The attorney also has to publicize your
passing in the paper etc., to allow anyone to make a claim on your
property. - It’s a complete PAIN.

- Make a list of all banks and account numbers, all investment
institutions with account numbers, lists of credit cards, utility accounts,
etc. Leave clear instructions as to how and when these things are paid.
Make sure heirs knows where life insurance policies are located.

- Make 100% sure SOMEONE knows your Apple ID,
bank ID account logins and passwords!!!!
(Mom had a little binder with all of this! )

- Make sure you have titles for all vehicles, campers, etc!
- MOST IMPORTANTLY!!!! - Talk with those closest to you and make
all your wishes KNOWN. Talk to those whom you’ve designated, as
well as those close to you whom you did not designate. - Do this to
explain why your decisions were made and to avoid any lingering
questions or hurt feelings.

We were fortunate that dad had almost everything in order.
A huge blessing g to us was that he had pre planned and prepaid
his funeral just a couple of days after mom died. Sadly, he had
planned on doing a TOD deed for the house the Monday after he
died. Had he been able to complete that, it would have saved
thousands in attorney fees and we could have avoided having to
probate the estate.

Hope this helps! Hope this lights a spark to encourage all my
friends and family to take care of these things to make it easier
for those we’ll leave behind!

*** I am NOT an attorney. The above is all simply lessons that
I’ve learned on my own. Of course only you can make decisions
for yourself! My hope is that the above list at least helps you start
an important conversation with your loved ones and an attorney
that can help you complete all the necessary steps.

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