Steps to Take When Planning for an Unexpected Death

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It sounds impossible, planning for the unexpected, but there are steps you can take to make this a reality. No one wants to believe that they’ll die a sudden death, but it’s a reality for all too many families across the nation each day. From fatal accidents in Redondo Beach to workplace hazards, you never truly know. So, check out these steps to take when planning for an unexpected death. 

Make a Financial Plan

It’s never too early to start planning, even if the thought isn’t pleasant. However, making a formal plan beforehand will help your loved ones deal with event if it does happen. Consider aspects like life insurance, what would happen with existing assets, and Social Security as well as covering funeral costs. It’s always best to make these plans with loved ones to ease the stress of a passing.

If you can’t make formal plans, then shoot for informal ones. The main goal is to determine, to the best of your ability, how survivor benefits like life insurance will combine to cover any expenses. Make sure to calculate everything as close as possible to give you a solid groundwork for managing the main financial aspect of an unexpected death. 

Will and Power of Attorney

Much like your financial plan, it’s never too early to write up your will. This vital document provides legal guidance on what happens to you and your belongings should you pass. This is an excellent way to ensure each loved one is gifted the items you would want them to have.

Your will also needs to include a power of attorney. This individual will act on your behalf to ensure your will is followed out in detail, so make sure it’s someone you trust. A power of attorney also acts on your behalf in the event that you cannot make decisions for yourself. 

While drafting these documents, the trickiest part is your estate. It’s in your best interest to meet with a legal professional, like these Sacramento estate planning attorneys, to ensure this part of your will follows all legal guidelines and that your wishes are met. 

The Mundane

One of the more difficult parts loved ones face after a death is handling daily accounts and bills. You can make this aspect easier by documenting these accounts (complete with their numbers), what bills are paid from which account, and any savings or retirement accounts. This ensures your family can wrap up all of your accounts and pay any outstanding debts with ease. 

The Contact List

In the midst of grief, its easy to overlook small details as well as big ones. To give your loved ones a helping hand, create an essential contact list with names and numbers to call in the event of your death. These should include:

  • Insurance agents
  • Financial advisors
  • Accountants
  • Employers
  • Attorneys or lawyers
  • Friends and extended family

Providing Access

Finally, make sure your power of attorney has access to your accounts and belongings. If you have a safety deposit box, for instance, let them know where the keys are. Passwords for online accounts, social media or financial, are also essential.