This article is for those of you who can see the end of your life ahead. This may be due to old age or illness. It is not a pleasant thought that life will end, but there are a number of things you can do to make the transition easier for yourself and your loved ones.
If you expect to be ill and weakened for an extended period of time, you should create an advanced power of attorney while you are still able to do so.
The power of attorney ensures that your loved ones can take care of your finances and care on the day you become too sick or weak to care for yourself.
The advanced power of attorney must be made while you can still think clearly, but does not take effect until you become ill.
You should also decide who will inherit from you when you are gone. If the rules of inheritance law do not meet your wishes, you should have a will made. The will should be made while you are still able to think clearly.
Today, it is almost more the rule than the exception that the general rules of the Inheritance Act do not fully cover your needs, but you can largely decide that yourself. At the same time, with a will, you can help both your spouse and your children on the day you are no longer here.
You are always welcome to contact us for a non-binding discussion about your options for making decisions about your assets on the day you die.
Read more about testament.
In addition to the regular will, you can make a will for your belongings. In the will for your belongings, you can decide who will inherit your belongings. For example, your son will have your television, and your daughter your motorcycle, etc.
You can make your will yourself, for example in a small book that you keep at home. It will be a great help to your loved ones when your belongings are to be distributed after your death.
Contact your insurance company and tell them about your situation. There may be a possibility of receiving a payment for critical illness or other coverage during your illness. Also check if money will be paid to your loved ones on the day you die. If so, get it written down and let your loved ones know.
You can choose who should be the beneficiary of your insurance policies and notify the insurance company. If you do not write anything, the money will go to your next of kin, which is usually your spouse/cohabitant and otherwise your children.
As with insurance, you should also contact your pension company and find out what might be paid out to your loved ones on the day you die. Write it down and give it to your loved ones.
You should fill in "my last will". You can get it from any funeral director. It is a small book where you can write how you want to be buried / laid to rest, which songs should be sung in church, etc. It will be a great help to your loved ones in the first days to know exactly how you want your funeral. You can fill out the folder and keep it at home where it is easy for your loved ones to find.
On the day you die, your assets must be settled and distributed. Depending on whether you are married, have children, have made a will or not, and the size of your assets, there are different ways in which the estate can be settled. You have the opportunity to determine to a certain extent in your will how your estate should be settled and who will be responsible for it.
Read more about estate administration.
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