There is little else as unsettling as thinking about how your spouse would manage if you were to pass away. While you can do your best to provide a supportive lifestyle while you are living, what happens when you are no longer physically able to protect your spouse? At Bingham Legal Group, we have helped many couples in Michigan to create an estate plan that is applicable to their living situation and is capable of meeting their end-of-life desires.
One of the best things that you can do to provide support to your spouse and any dependents you may have once you pass away, is to be proactive while you are living in making sure that you plan ahead. An estate plan encompasses a variety of aspects from how you wish your assets to be distributed to how certain decisions regarding your inheritance should be made. Throughout the process of creating an estate plan, you should work closely with your spouse as the two of you reach agreements on important decisions. You can also address tax responsibilities in your estate plan to prevent burdening your spouse with tax exemption requirements when you pass away.
According to AARP, one valuable way that you can help your spouse is to inform him or her of the responsibilities that will need to be undertaken when you die. Provide a detailed list of your passwords for various accounts. Keep critical financial documents organized and accessible to your spouse. Talk about the financial planning aspect of your funeral and regularly review the will you have written to verify that it is valid and up-to-date.
When you actively involve your spouse in planning your estate and take the initiative to be prepared for the future, you can minimize the stress that he or she feels while the emotions of your death are still fresh. For more information about writing a will, visit our web page.