You don’t want to think about your death. However, it is something we all must face at some point. When it does occur, you might worry about whether you might leave your loved ones in a bind? Questions like these are why so many people pre-plan their final estate settlements. Let’s look at some of the most-important ways to put your final arrangements in place.

Step One: Who Gets Your Belongings?

When you die, your worldly goods will remain behind. This might include money, financial assets and personal belongings. If you want these items to go to certain parties or purposes, you will need to make your wishes known.

Yet, just because you tell someone they can have your heirloom jewelry doesn’t necessarily give them a rock-solid claim to the item. Even if you want life insurance or final expense coverage to go to your funeral costs, you will likely need to make that clear.

It is always best to establish written documentation that allocates your assets. You will likely need to work with a lawyer, paralegal or other party to assemble the right paperwork. They can help you draw up ironclad orders to come into play at your death. Items you might need to govern asset allocation might include Last Wills, trust funds or the appointment of trustees.

Step Two: Can You Afford End-of-Life Costs?

When you die, you will leave costs behind. These might include:

• Funeral costs
• Final medical expenses
• Debts of all types

Such costs might easily drain what remains of your life’s savings. That might put your survivors in a tough position. But, with the appropriate insurance, you might be able to offer them a financial payout for such costs.

• Life insurance can provide a payout for survivors' short-term or long-term needs. It might pay for everything from funeral expenses to your mortgage or a child's education.
• Final expense insurance is more limited than full life insurance. Yet, it can provide a significant payout for debts, final medical bills or burial costs.

A great thing about these policies is you can leave them to whomever you choose. You can also set up rules in a trust to govern the use of the money more closely.

Step Three: Talk to Your Survivors

You will want your survivors to know about your final arrangements. Usually, you should appoint one or more executors to manage the settling of these estate. These might be family members, lawyers or friends whom you can trust to handle the estate fairly. They should know where to find your Will and important items like insurance policies. They should also know whether you have any written requirements for end-of-life care.