Determining what will happen after you pass away by setting up an estate plan can be helpful.
Planning on what happens after you pass away by creating an estate plan can sometimes lead to a more fruitful life, according to the Wills, Trusts & Estates Prof Blog in “How Planning For Your Death Can Help You Live A More Purposeful Life.”
What is meant by good death planning is planning for what will happen to your assets after you pass away and planning for how you want to be remembered after you are gone.
We call these “estate” planning and “legacy” planning.
Estate planning starts with deciding who you want to have your assets and personal possessions after you pass away. You can then go to an estate planning attorney, who will prepare legal documents to make your wishes enforceable.
Legacy planning is not quite as simple. It requires thinking about what is important in your life and figuring out how to impart that to the people you will leave behind.
If you do undertake estate and legacy planning, then you will have a better understanding of what will happen after you pass away.
That, in turn, will help you to live better now.
Reference: Wills, Trusts & Estates Prof Blog (Nov. 23, 2017) “How Planning For Your Death Can Help You Live A More Purposeful Life.”