If you are dealing with someone with a terminal illness, there are a few things you can do — practical things — to handle the financial side of things.
According to a story on dailyfinance.com, here are things that you must do:
- Make a will and check account ownerships. Assign power of attorney and make sure you have a will.
- Double check your beneficiaries on your IRA and insurance forms.
- Look for sources of cash. Bills can pile up. You may have to sell some possessions or tap into retirement funds.
- Apply for Social Security Disability.
- Be smart about spending. Don’t blow it all on a bucket list. Save some for your family.
If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.
