Some things you might want to consider about your estate are:
• estimating the value of all your assets combined;
• estimating your cash flow;
• adding up your net worth;
• identifying after death debts and expenses;
• appraising long-term care costs; and
• storing the documentation of your estate.
4. Your Final Documents
Often, end-of-life documents can be confusing. Some people just don’t know what is important to document. Additionally, the types of documentation needed cover a range of issues that can occur at the end of life. For example, many people advocate for writing an Advance Directive. An Advance Directive can cover issues like end-of-life care and who will carry out final wishes. Also, an Advance Directive can discuss Power of Attorney.
Some states, like California, require that an Advance Directive form be filed with the state so that it can be documented properly. Also, the state of California’s Office of the Attorney General suggests gathering information for an Advance Directive with crucial people, like doctors and family. Starting with a doctor can help a person find out what type of care is possible. Then it’s the Last Will and Testament, a Living Will and Living Trust.
3. Your Care Options
Similar to an Advance Directive, there is a Living Will. While a Living Trust transfers assets, a Living Will documents wishes for being kept alive after a person can live no longer without the help of machines. Discussing your care options allows a person to decide about end-of-life care without interference.