Critical Components of Planning for End-of-Life Care. No one likes discussing end-of-life care. In fact, studies show that only 33% of U.S. adults have end-of-life directives in place.
It’s really not a mystery as to why so many people are avoiding this subject. Death and disablement is an uncomfortable topic.
But without a living will and directives on end-of-life medical care, family members can many times be put in unfortunate situations and, with emotions running high, can have decision paralysis. If you do decide to put together a plan for end-of-life care, here are a few components you’ll want to think about.
Getting Properly Insured
The first thing you’ll want to think about when planning for end-of-life care is to find out whether or not you’re properly insured. Medicare, which many people are using at the time of death, does provide some coverage for end-of-life services such as hospice. Private insurance plans will usually also have their stipulations and provisions in this area. Here at TCG Insurance Solutions, we have Final Expense plans that can help with costs associated with end of planning.
But no insurance plan, Medicare or otherwise, will cover everything. These additional end-of-life care costs, such as assisted living care or private nursing care, can really add up. Fortunately, many insurance carriers offer specific plans that can help cover costs in these areas.
Estate Planning
Estate planning is exactly what it sounds like: planning for the dispersion of your estate after you die. Proper estate planning requires help from a lawyer who can make sure everything is in order. This will give you peace of mind in formulating the Critical Components of Planning for End-of-Life Care.
In general, you’ll want to start thinking of who you want to pass your assets onto as well as who you want to handle all the tasks that come from the death of a family member. If you own a house, for example, the house will need to be sold or otherwise occupied. The same follows for cars and other tangibles. Estate planning lawyers can help you do an exhaustive review of your assets and what you want to happen after your death.
Pick an Executor
You’ll also want to pick an executor for your estate and your living will. Picking an executor is an integral part of estate planning and your lawyer can help you with this as well. You’ll want to think about who you can trust to carry out your instructions once you die. Many people give this task to a child, niece, or nephew.
While planning for death and end-of-life care isn’t exactly everyone’s favorite topic, it’s something that can help save your family from a lot of stress and conflict in a possible future. It will also help to give you and your loved ones peace of mind. We hope this helps you better understand Critical Components of Planning for End-of-Life Care.
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