Everybody should have a will. Even if you are in the best health of your life, having a will can help you prepare for a future when you need to consider what is going to happen later in life. For elderly folks, a will is even more important. You want to make sure that you have everything lined up to keep you safe throughout the rest of your life. Here are some reasons why elderly folks should have a will.
1. Make Your Medical Wishes Clear
The older you get, the more likely you are to have health problems. These can become severe, leaving you unable to clearly state your wishes. This is where a will becomes incredibly important. You can put in place Advance Directives, which can help your loved ones and medical professionals know what you want in terms of your care. They need to know about things like DNRs and other requests, so make sure they have that information available to them. When you write a will, it isn’t just about what happens after your death, but what happens when you’re still alive but unable to advocate for yourself.
2. Decide Who Gets What
The popular view of a will is that it tells your family who gets what after you die. While this isn’t the only aspect of your will, it is a big part of it. By making your will, your family won’t have to worry about this aspect when you’re no longer here. If you have multiple children or a large number of assets, you need to make sure that you are clear about your wishes for them. You want everybody to know who gets what. This will help reduce fights during an already stressful time in your family’s lives. It will also help you to clarify your own thoughts on the matter. Two out of five seniors need assistance to get through the day. You might have ideas of who you want to leave your assets to based on who provides that assistance. No matter what, you need to take the time to sit down and delegate your assets.
3. Donate to Charity
If you’re thinking about donating to a charity, you need to make sure that you do so correctly. If you don’t know what to do, you can always work with a professional. Only 10% of people who don’t have a will have spoken to an attorney or other professional for advice about their will. Talk to someone with extensive knowledge of the process of donating to charity in your will. You can figure out which charities are worth considering, as well as what would be an appropriate amount to leave for them. By leaving money to charity, you can do a lot of good for people who need help.
4. Make Sure You Don’t Miss Anything
If you have a lot of assets, it can be easy to forget about some of them. This can happen even if you don’t have a lot of property to consider. When you’re doing your will, your advisor will help you gather all the information you need in order to find a plan for everything you own. This will reduce the risk of your property going toward things you don’t want it to go toward after you’re no longer here.
5. Peace of Mind
You want to live out your elderly years in peace and good health. If your will is already done, then you don’t need to worry about it anymore. You might have to make a few small edits over the years, but you won’t have the task hanging over your head. For the sake of your peace of mind, get your will done.
As an elderly person, you should make sure that your will is officially done. If you haven’t done so yet, keep these thoughts in mind. They’ll help motivate you to get the job done correctly and in a timely manner.