Deep sorrow is normal following the death of a loved one, and ultimately, nothing we do is likely to change that. We can, however, do the important tasks of leaving our affairs in order (aka estate planning), so as not to create undue burdens, adding stress to grief.
Plan and Organize
Putting an estate plan in place, and periodically updating it, means those who have loved and cared about us can grieve without the unnecessary aggravation of digging through account information, searching for documents or puzzling over unspoken intentions. Plus, given that emotions tend to run high in the face of death, making our commitments and associated plans clear while time permits, helps to prevent familial conflict:
Life is inevitably characterized by death. After losing a family member or loved one, people experience pain and grief. Often the situation gets worse if legal issues are involved, resulting in family conflicts. During this difficult time, people accumulate sourness and distance instead of supporting each other. These challenges are typically the result of a lack of planning when they could have been much easier if a good plan had been in place….
Dying “intestate” leaves your loved ones navigating the courts and the laws of your state when settling your affairs. With an estate plan in place, you minimize this process through nominating guardians for any minor children, appointing an executor (also known as a personal representative), and designating beneficiaries for your assets…
In addition to your legal documents, you also should provide information on credit cards, bank accounts, investment accounts, and digital assets (think emails, social media, blockchain crypto, and online banking). Provide your family and executor with information necessary to access these documents and accounts….
Although your estate plan documents your wishes regarding certain legal matters, it is helpful to have a letter of instruction to share more information with your family.This letter is not legally binding….It is simply a space for you to share your love for your family, your values, your wishes for your funeral, memorial, burial, or cremation.
Designate A Fiduciary
Importantly, when you make an estate plan, you will designate a loved one, friend or professional to serve as your fiduciary. This person is generally referred to as an executor, trustee, or personal representative, depending on your circumstances and region. If you have minor children, it is also essential to designate a guardian.
Regardless of the specifics of your estate plan, the fiduciaries you appoint have a legal responsibility to carry out your affairs, in accordance with the intentions set forth in your estate planning documents, like a will and or trust, and the law. When representatives are designated, fiduciary bonds, alternatively referred to as estate bonds, can be required as a safeguard for the interests of the estate and beneficiaries. Learn more about estate bonds right here.
At Colonial, a leading national provider of all types of fiduciary bonds, the steps to obtaining estate bonds and all other types of fiduciary bonds are easy: get a quote online, fill out the information, and enter a payment method. Print or e-file the bond from anywhere—even the law office.
Good To Do: Say The Words
Living a noble life means ensuring those we love and care about know it. “Now” is always the best time for significant conversation:
Honor The People In Your Life Who Matter Most
Tell them how much you love them and are grateful for them now. Tell them about memories that are meaningful to both of you. …Apologize to people you may have hurt. The act is not just peaceful for you, but other people you have hurt may benefit from this process. Give this act of healing to those who matter to you.
Estate Law Practice?
Make more time to talk to clients grappling with deep issues by cutting down on some of your back-end wear and tear.
Colonial Surety is here to help speed things up whenever and wherever a bond is needed. With a few clicks, you’ll arm your clients with exactly the bond specified.
Just log in to The Partnership Account® for Attorneys, choose a bond, send it to your client for payment, then download, e-file or print the bond. Specific obligee requirements? Trust us: Colonial’s a direct bond writer, so our experts are here to ensure obligee requirements across the country are properly met.
Our fiduciary bond portfolio includes: administrator, estate, executor, guardian, personal representative, probate, surrogate, trustee, conservator and the list goes on. Our court bond portfolio includes appeal, supersedeas, injunction, replevin, receiver and more.
Speedy, easy bonds court and fiduciary bonds, right here:
Colonial Surety is rated “A Excellent” by A.M. Best Company, U.S. Treasury listed, and licensed for business everywhere in the USA. Our customers have awarded us a 4.8 Trustpilot score.