Planning for the Future: Essential Steps for End-of-Life Preparation and Survivor Support

Planning for the future is a crucial step in ensuring peace of mind for yourself and your loved ones. While it may be a difficult topic to address, having a comprehensive end-of-life plan and a Family Readiness Checklist can make a significant difference during challenging times. At HoganTaylor Wealth, we understand the importance of being prepared, and we've compiled essential steps to guide you through this process.

1. Gather Vital Information

Start by collecting all necessary personal information. This includes your full name, home address, date and place of birth, Social Security number, and details about your occupation and education. Additionally, gather information about your parents, including their full names and your mother's maiden name. If you have served in the Armed Forces, include your rank and branch of service.

2. Collect Vital Documents

Ensure that all important documents are in one place and stored securely. This includes your will, trust, power of attorney, advanced directives, birth certificate, Social Security card, and insurance policies. Don't forget to include account statements, deeds to property, vehicle titles, and income tax returns. You can also rely on your trusted HoganTaylor Advisors to help you store vital documents.

3. Make Memorial Arrangements

Decide on your preferences for burial or cremation, and specify the type of service you would like. Choose a burial estate location, casket type, and memorial inscription. Select scriptures, music, and flowers for the service, and provide information for your obituary and eulogy. It's also important to check your will or trust for any special wishes you may have. While these may seem trivial to some having less to think through in those final days can often allow your family and friends more time to grieve or prepare for the services with one less burden or potential disagreement.

4. Manage Finances

Compile a list of all your accounts, including login information, automatic payments, and outstanding bills. Determine who will be responsible for paying these bills and consider adding co-signers to your accounts if necessary. Coordinate with your financial advisor to ensure that your final tax return is prepared and filed.

Why it matters: 

Our Head of Operations in HT Wealth, Melissa Young, recently helped a client who had inherited assets from a close friend. While one account was set up properly in a trust, the rest had to go through probate—a legal process that can be lengthy, expensive, and emotionally draining, as it involves validating a will and distributing assets through the court. This left the grieving family overwhelmed. The client said, “I just want to help my dad get his wishes in motion so we can avoid this in the future.”

Melissa shared the Family Readiness Checklist, which helped her client create a plan for her entire family and help avoid unnecessary stress down the road. This is exactly why the checklist exists: to spark proactive planning, reduce stress, and protect loved ones when they need it most!

Conclusion

Preparing for the end of life and ensuring that your survivors have a clear checklist to follow can provide immense relief during a difficult time. By taking these steps, you can help your loved ones navigate the complexities of managing your affairs and honoring your wishes. At HoganTaylor Wealth, we are here to support you through every step of this process. Download the checklist below or contact us today to learn more about how we can assist you in planning for the future.