Even in the closest of marriages, discussing death and what happens afterward can feel uncomfortable. Yet, having these conversations is crucial for ensuring that your surviving spouse isn’t left with unanswered questions or unexpected challenges. In fact, studies show that many couples avoid discussing their end-of-life wishes, which can create confusion and stress for those left behind.
Here’s a look at four important topics you should cover with your spouse to create a smooth estate planning process:
1. Location of Important Documents
In many couples, one partner handles the finances while the other stays less involved. If this is the case for you, it’s essential to make sure your spouse knows where to find important documents. These include:
- Estate planning documents
- Life insurance policies
- Loan documents
- Financial account information (like savings, retirement, and investment accounts)
- Login credentials for digital accounts
In community property states, where most assets acquired during marriage are jointly owned, and in common law states, where property is individually owned unless specified otherwise, knowing where these documents are kept is vital. This helps your spouse manage your estate effectively without unnecessary stress.
2. Contact Information
When a loved one passes, there’s a lot to manage, including notifying people who need to know. While your spouse might already have a good idea of who to contact, they might not have all the contact details readily accessible. It’s helpful to keep a list of important contacts in a separate document or share your phone’s login credentials. This list might include:
- Extended family
- Religious leaders
- Club members
- Professional contacts
- Your employer, if applicable
Making sure your spouse has this information ensures that they can handle these notifications without added stress during a difficult time.
3. Burial Arrangements
Burial preferences are deeply personal and often vary widely. Some people choose cremation and wish for their ashes to be scattered in a meaningful place, while others prefer traditional burial or natural burials. Discussing and documenting these preferences can give your spouse peace of mind that your wishes will be honored. Whether you want a specific type of ceremony or have unique preferences, putting these in writing is a loving way to ensure your end-of-life wishes are respected.
4. Remarriage
The topic of remarriage after a spouse’s death can be sensitive. While many people accept that their spouse may remarry, there might be concerns about how a new partner might impact their legacy. Estate planning tools like a QTIP trust can protect your assets for your children or other heirs while still providing for your surviving spouse. Whether you’re open to remarriage or have specific wishes about how your assets should be managed, discussing and planning for this scenario can prevent future complications.
Show Love with a Thorough Estate Plan
Death is inevitable, but having a well-thought-out estate plan can alleviate stress for your loved ones and ensure that your wishes are carried out. Estate planning isn’t just about dividing assets – it’s about providing clarity and peace of mind for those you leave behind. If you haven’t yet addressed these important topics, or if it’s been a while since you updated your estate plan, now is the time.
For a personalized approach to estate planning, contact our office and schedule a Life and Legacy Planning Session. We’re here to help you navigate these discussions and create a plan that ensures your spouse and loved ones are well taken care of.
At Cheever Law, APC, we don’t just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love, starting with a valuable and educational Life & Legacy Planning Session. This will allow you to get more financially organized and make the best choices for the people you love. If you have already completed your estate plan, we will review that plan at your Life & Legacy Planning Session to ensure that it will work the way you intend and address any holes or gaps that may be present if circumstances have changed since you executed your plan.
To learn more about our one-of-a-kind systems and services, contact us or schedule a no-obligation 15-minute introductory phone call today.