Lessons From the News
By M. Kotch
Unless you’ve been living in a cave, you’ve probably read or watched news about the recent deaths of pop icon Michael Jackson, 1970s star Farrah Fawcett and TV legend Ed McMahon. Their passing has left many sad and bewildered, and while the circumstances surrounding each death may have been different, there is a collective message we can all learn from: no one can predict a loved one’s passing whether it’s expected (after a long battle with a terminal illness), or completely out of the blue (cardiovascular disease is the number one killer in the United States). But what we can do is prepare our loved ones for the inevitable: our own passing some day.
An honest conversation about death makes most of us very uncomfortable—and that’s natural—but don’t let that get in the way of making your wishes clear, getting the needs of your children (particularly if they are young) addressed and of your responsibilities being taken care of.
The news should have reminded you to tackle (or revise) the following:
1. Life Insurance. The younger you are, the easier and cheaper it is to purchase a substantial plan (with a value of a few hundred thousand dollars for only a few hundred dollars each year, for example). Think about how much easier that will make it for your family after dealing with funeral expenses (which can cost thousands of dollars), and managing without your income, particularly if you are the primary money-earner in the household.
2. Create a will and testament and keep its whereabouts known to more than one party. Imagine if Michael Jackson had died without a will; everything from the fate of his properties (including Neverland Ranch) to his music library (a catalogue that’s said to be worth half a billion dollars), to his children’s custody to his personal belonging would be decided by the courts. Most of us will never deal with such complicated holdings, but the principal remains the same whether you’re worth thousands or millions of dollars, don’t let courts and judges decide the fate of your property or determine what’s best for your family. Create the will that’s right for you sooner rather than later.
3. Are you an organ donor? Most feel very strongly for or against donating their organs for personal and religious reasons. Whatever your choice, it is imperative to make your wishes clear to your doctor (to go into your medical records), your family or to clearly state your status in a living will.
4. Specify what kind of funeral arrangement you would like. Do you prefer the idea a traditional funeral and burial, or are you more interested in a green or unconventional memorial? Read up on the new services that are now available and make your wishes clear. The passing of a loved one leaves friends and family grieving and at a loss for what to do next, but by outlining your arrangements in advance, a funeral can be just a little bit easier to plan.
5. Have an honest conversation with your spouse, children and friends about your current health—mental and physical. Now is the time to reevaluate those things you’ve been meaning to do, such as finally kicking the smoking habit, eating a little healthier, taking that dream trip or stressing less about everyday life.
Remember that by making responsible decisions now, you can help ease the burden on your loved ones later.
