Key Takeaways
- Planning ahead can help ensure your loved one’s wishes are honored, important information is easy to find, and family members are better prepared to handle future responsibilities.
- Review and update estate planning documents, including wills, trusts, and beneficiary designations, to ensure they reflect current wishes and family circumstances.
- Put incapacity planning tools in place, such as a Georgia Advance Directive for Health Care and a durable financial power of attorney, so trusted individuals can act when needed.
- Organize financial records, legal documents, digital assets, and key contact information in a central location that trusted family members can access.
- Discuss healthcare preferences, end-of-life wishes, funeral arrangements, and personal values so loved ones understand what is most important to your family member.
- Review property ownership, real estate holdings, and business interests to ensure assets transfer according to your loved one’s goals and existing estate plan.
Family can be one of the most precious things we have. Parents, siblings, and other loved ones help shape our identity, teach us how to form other relationships, and support us during good times and bad. One of the ways we can show our appreciation is to help them prepare for a time when they’re no longer with us.
While no one likes to think about losing a family member, a little planning today can make life easier for other loved ones tomorrow. When their wishes are documented and key information is easy to find, your family can spend less time searching for answers and more time supporting one another. In this guide, we’ll walk you through the steps you should take before they pass, so their estate is handled the way they would have wanted.
1. Confirm Estate Planning Documents Are in Place
Estate planning documents achieve two important goals, namely:
- Helping ensure your loved one’s wishes are known
- Providing guidance when important decisions need to be made
While one of the best-known resources is the Last Will and Testament, there are other options that can help you cover all your bases.
Last Will and Testament
The Last Will and Testament lets your loved one put their wishes in writing. A will does not avoid probate, but it can provide the probate court and surviving family members with legally enforceable instructions about the estate. When those goals are documented in an estate plan, it can bring clarity as well as comfort to surviving family members.
Life changes over time, and a will should change when needed too. A marriage, the arrival of grandchildren, the purchase of a home, or other major milestones may prompt updates. Taking a fresh look at an existing will can confirm that it still reflects what your loved one wants today.
Revocable Living Trust
A revocable living trust allows property to be managed according to instructions created by the grantor (the person establishing the trust). It can also provide continuity if that person later becomes unable to manage trust assets themselves.
Families use trusts for many different reasons. Some want a plan for managing property across generations, while others want to provide further guidance about how assets should be distributed. A trust can create flexibility while keeping the family’s goals at the center of the plan.
Pro Tip: If a trust is already in place, it’s a good idea to confirm that it still reflects current wishes. Property ownership, family relationships, and financial goals can change over time. A periodic review helps keep the trust current.
Beneficiary Designations
Beneficiary designations factor into many estate plans. Retirement accounts, life insurance policies, and certain financial accounts allow assets to pass directly to the people named on those forms, so keeping this information current helps ensure assets are distributed according to your loved one’s wishes.
Updating beneficiary designations is usually straightforward, and a quick review can confirm that the right people are listed and that account information stays accurate. That consistency can make future administration much easier.
2. Create or Update Incapacity Planning Documents
While many people think estate planning begins and ends with a will, there are other important documents for incapacity planning. They include advance directives for health care and durable financial powers of attorney.
Georgia Advance Directive for Health Care
A Georgia advance directive for health care allows a person to name someone they trust to make medical choices if they’re unable to do so themselves. It can also include instructions about medical treatment and other healthcare preferences. This gives medical professionals, family members, and the chosen healthcare agent written guidance when important choices need to be made.
Completing an advance directive also creates an opportunity for conversation. Your loved one can talk openly about the type of care they want, the treatments they would accept, and the person they would like making decisions on their behalf. These discussions can help the family feel better prepared if a medical emergency occurs.
Pro Tip: If an advance directive has been sitting in a file cabinet for years, it should be revisited. The person named as healthcare agent may have changed, or your loved one’s preferences may be different today than they were when the document was first signed. A quick review can confirm that the legal document still reflects their current wishes.
Durable Financial Power of Attorney
A durable financial power of attorney allows someone to handle financial responsibilities on another person’s behalf. Depending on the authority granted, that person may be able to pay bills, manage bank accounts, communicate with financial institutions, or handle real estate transactions. This can help keep day-to-day responsibilities on track during periods of illness or incapacity.
You want to be careful when choosing an agent for a durable power of attorney. Your loved one should select someone who is dependable, organized, and willing to carry out the responsibilities outlined in the document. It’s also a good idea to document instructions for accessing important online accounts, while making sure any access is authorized under applicable law, account terms, and estate planning documents.
Many families appreciate having a financial power of attorney in place before it becomes necessary. If a health condition makes it difficult for someone to manage their finances, a trusted agent may be able to begin helping under the authority granted in the document. That can save valuable time and help ensure bills, accounts, and other financial responsibilities continue to receive attention.
Make Sure Key People Know Where Everything Is!
Creating these estate planning tools is only the beginning. Your family member should also:
- Tell trusted relatives and chosen agents where signed copies are stored and how to access them if they are needed.
- Let health care agents and financial agents know they have been selected.
A short conversation today can prevent confusion later and give everyone a better understanding of their role. When the right people have the right information, they’re in a better position to honor your loved one’s wishes and provide support when it’s needed most.
3. Organize Financial Information
Many families know where some records are located but struggle to find everything when they need it. Account information may be scattered among filing cabinets, desk drawers, email accounts, and online portals. Bringing everything together in one place can make life much easier for the people who may need to access that information in the future.
Start by making a list of financial accounts and assets. This may include:
- Bank and investment account statements
- Retirement accounts
- Life insurance policies
- Real estate
- Business interests
This inventory doesn’t need to be complicated. A simple document that includes account names, financial institutions, and contact information can be incredibly helpful. The goal is to create a reliable reference point that trusted family members can use when questions arise.
Pro Tip: As new accounts are opened or existing accounts are closed, the inventory should be updated.
Gather Important Records
In addition to financial accounts, families should know where important records are stored. These may include:
- Tax returns
- Property deeds
- Vehicle titles
- Military records
- Marriage certificates
- Divorce decrees
- Insurance policies
Many families choose to keep copies of records in both physical and digital formats. This can provide an extra layer of convenience and keep important information easier to access.
Note: It’s also helpful to collect contact information for professionals who work with your loved one. Estate attorneys, accountants, financial advisors, insurance agents, and tax professionals can all provide assistance when questions arise.
Don’t Forget Digital Information!
Today, many important records exist only online. Bank accounts, investment accounts, insurance information, email accounts, subscription services, and cloud storage platforms may all contain information family members need. Creating a list of digital assets can help ensure these accounts are not forgotten.
It is also helpful to document where passwords and account-access instructions are stored, while making sure any access is authorized under applicable law, account terms, and estate planning documents. A password manager or secure storage system can help keep this information organized while protecting privacy.
Store Information in a Central Location
Once all the necessary records have been gathered, choose a central location for storing them. Some people prefer a secure filing cabinet, while others use encrypted digital storage. The best system is the one that your loved one will keep updated and that trusted parties can access when necessary. When records are easy to find and information is kept up to date, families are better prepared to handle responsibilities that arise in the future.
4. Discuss End-of-Life Wishes
Talking about end-of-life wishes can be uncomfortable at first, but these conversations are necessary and can be kept positive. Open communication can also help bring family members together around a shared understanding of what is most important.
Many people assume their family already knows what they would want. In reality, loved ones may have different interpretations or make different assumptions. Taking time to discuss these topics directly can help create a clearer picture for everyone involved.
Talk About Healthcare Preferences
Healthcare wishes are one of the most important topics to discuss. Your loved one may have opinions about medical treatments, life-sustaining measures, pain management, or other aspects of care. Having these discussions in advance gives you an opportunity to hear those preferences directly from the person making them.
Share Personal, Religious, and Cultural Wishes
Many people have personal beliefs, traditions, or values they would like reflected in end-of-life arrangements. These may include religious practices, cultural customs, memorial preferences, or other requests they would like relatives to know about. Sharing this information ahead of time can help prevent uncertainty later.
Discuss Funeral Arrangements and Burial Preferences
Some people prefer burial, while others prefer cremation.Others may have preferences about the type of service they would like or how they would like family and friends to gather in remembrance. In Georgia, written instructions and the legally authorized person for disposition of remains can be important if family members disagree about funeral, burial, cremation, or related arrangements. Having these conversations ahead of time can relieve family members from having to guess what their loved one would have wanted. In Georgia, written instructions and the legally authorized person for disposition of remains can be important if family members disagree about funeral, burial, cremation, or related arrangements.
Note: These discussions may change over time as health needs, family relationships, or personal preferences evolve. Revisiting the topic from time to time can help ensure everyone remains on the same page. Keeping communication open allows plans to reflect a person’s wishes throughout different stages of life.
5. Review Asset Ownership and Real Estate Issues
When people think about estate planning, they usually think about wills and trusts. Just as important, however, is understanding how property is owned. The way assets are titled can affect how they transfer after death and what steps may be required to settle an estate.
This is a good time to make a list of major assets and confirm how each one is owned. Homes, vacation properties, bank accounts, investment accounts, and business interests may all have different ownership arrangements. Having an accurate picture of what is owned and how it is titled can help prevent surprises later.
Pro Tip: Ownership records should also be reviewed after major life events. Marriage, divorce, the death of a spouse, or the purchase of new property can all affect how assets are titled. Taking time to verify ownership information helps keep an estate plan current and coordinated.
6. Review Business Interests
If your loved one owns a business, it’s important to discuss what should happen to that business in the future. Some owners want the business to remain in the family, while others may prefer a sale or transfer to a business partner. Having a plan in place can help support those goals.
Business owners should also review any agreements that affect ownership rights. Buy-sell agreements, partnership agreements, operating agreements, and shareholder agreements may contain instructions that affect what happens after an owner’s death. Understanding those provisions ahead of time can help prevent confusion later.
FAQs About Steps to Take Before a Family Member Passes
Is a Georgia Advance Directive for Health Care the Same as a Living Will?
Not exactly. Georgia’s Advance Directive for Health Care replaced the older Georgia living will and health care power of attorney framework. The current document allows a person to name a health care agent, state treatment preferences, and address certain end-of-life decisions.
When Should a Family Begin Long-Term Care Planning?
Earlier is usually better. Starting before care is needed gives families more time to review options, discuss preferences, and evaluate available resources. It can also create additional opportunities to plan for future care expenses.
How Often Should Estate Planning Documents Be Reviewed?
Many attorneys recommend reviewing estate planning documents every few years and after major life events. Marriage, divorce, births, deaths, retirement, and major financial changes can all be good reasons to revisit an existing plan. Regular reviews help ensure documents continue to reflect a person’s wishes.
Speak to a Georgia Estate Attorney Today
If you’re helping a parent, spouse, or another family member prepare for the future, now is a great time to start the conversation. Reviewing plans today can keep important decisions in the hands of the people who know your loved one best. It can also provide peace of mind for everyone involved.
At Brightside, we help Georgia families create plans that reflect their goals, values, and wishes. From estate planning and incapacity planning to long-term care and Medicaid planning, our team is here to help you prepare for the future. To schedule an initial consultation, call our estate planning law firm at 404-492-9559 or fill out our online contact form.