April 25, 2014
Empowering Your Loved Ones With Knowledge
By Harris Rosen When a partner passes away or becomes debilitated, it is emotionally shattering. If your loved one runs the household or handles finances and investments and doesn’t have records or written instructions, it can be devastating. According to a Harvard Medical School publication, “Coping With Grief and Loss,” “Up to 50% of widows and widowers have symptoms typical of major depression during the first few months after a spouse’s death.” The report also noted that “15% of people are depressed at the one year mark.” How will your loved ones access vital information that you have in your head? If you “take it with you,” your passing will be even more overwhelming. The answer is to create a guide. What are the practical benefits, in addition to emotional support?
- All your information will be in one place.
- It will make it easier for your executor/executrix to settle your estate.
- Your preferences for funeral or memorial arrangements will be stated.
- Attorney fees ($200 to $500 per hour) will be reduced if information doesn’t have to be searched for.
- Unpaid bills, especially tax bills, will not be lost.
- Healthcare and other insurance providers will be known.
- Passwords for computers and websites will be readily available.
- Names and telephone numbers of repair people for your home and appliances will be listed.