Nearing End Of Life From Breast Cancer

Minor Children: If you have minor children and no legal spouse, make sure personal and financial arrangements for their care are in place in case it reaches a point you are no longer able to take care of them or you die.

Last Will And Testament: Everyone should have a will. Your health status makes it more urgent that you have a will, and that it is up-to-date.

If you don’t have your own will, your assets will pass according to the laws of the state in which you reside. Do you want your assets to pass as dictated by the state or according to your own wishes?

• If you have a will:
  • Review it to be sure it is up-to-date. If it isn't, you can make the necessary changes by an amendment without having to rewrite the entire will. (Please keep in mind that the amendment needs to be executed in the same manner as the will itself).
  • Check to see whether it is challenge proof. Money can make people do strange things. (See: How To Challenge Proof Your Will) 
• If you do not have a will:
  • This is a good time to get one.  Wills are not expensive. As indicated in the documents in "To Learn More", you can even write one yourself.
  • Be sure to make arrangements for the personal items you care about to go to the people you want to have them. For instance, a watch to a favorite niece. 
  • Do what you can to make your new will challenge proof. Money can make people do strange things. (See: How To Challenge Proof Your Will) 
• If you haven't already, discuss with your heirs how you are leaving your assets. It will assure your wishes are carried out. It also helps to prevent them from being unhappy over who got what, or battling each other over their inheritance.

Ethical Wills: Consider creating an Ethical Will - an informal document which passes to your heirs family history that you want to be passed on as well as life lessons you've learned. An ethical will can be in any form you desire. 

Beneficiary Designations: Check beneficiary designations on your life insurance and retirement plans to be sure the proceeds go to the people you want. Unless the documents list your estate as beneficiary, these funds are not controlled by what your Will says.

Funeral Arrangements: It may be difficult to think about, but it is advisable to preplan your funeral and burial arrangements. Making plans will assure you get a say in the matter. It will also save your heirs unnecessary expense and stress - particularly at a time when they are emotionally vulnerable and can be easily taken financially. For information, see: Funerals 101

A List Of Instructions: Completing a List of Instructions will let your executor/personal representative and heirs know where your assets are.

If the person who will be in charge of your estate (your Executor or Personal Representative) will need a road map to understand your finances, write one for him or her. Better yet, show the person where your financial papers are kept and describe complex arrangements. See: Where To Store Important Papers And Documents.  Once you set the location, consider writing a Document Inventory so the papers can easily be found. 

Safe Deposit Box: Make sure someone you trust has access to your safe deposit box. If you have a lot of valuables in your box that will not go to the person with the key, consider requiring two people to be present when opening the box.

Forgiveness: Make peace with people you care about. If you don't do it for them, do it for own peace of mind.

Business Owners: If you are a business owner, consider who will succeed you and what information will be needed. Also think about writing a "Business Ethical Will" that passes on what is important for your successors to know, including the history of the business and guiding values. See: Estate Planning For Business Owners.

Self Employed: If you are self employed, consider who you want to succeed you and what information will be needed. For more information, click here.

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