Preparing for Death

If you have ever come to one of our Fighting Pistol classes, then you have sat through the mindset lecture. While I am not going to go into detail over what that entails (don’t want to ruin it for those who have yet to hear it), I am going to touch on an important part of the lecture that gets discussed. I am going to talk about simple steps you can take to help you better prepare for your own death. This is an uncomfortable topic for some to talk about, but it is something we need to prepare for so it isn’t left on our loved ones. This also means that if or when The  Fight is brought to you, those thoughts won’t be in your head and you can better focus on the task at hand. 

One of the easiest things you can do is go to your bank and put a P.O.D. on your account. This is someone who can take the funds out of your bank account once you’re dead. You may think that your spouse may be able to get into your account, but unless they are the co-owner of your account they will be locked out. You can name a spouse, friend, family member, and more as your P.O.D. Here is a link with more information about PODs. 

You should make sure you have a living will/advanced directive. I’m not sure about other states, but in the state of Tennessee you can print a form off the internet and fill it out that same day. You will need to either get a notary or you can have two witnesses to sign it. You can find a living will for the state of Tennessee HERE. This link was pulled straight from the tn.gov website.

You should have life insurance. Obviously, the amount for this is going to change on how much the policy is worth, age, health, etc. I am a relatively healthy 32 year old woman. My policy is about $15 a month. The amount you will need will vary depending on your lifestyle. I made sure to get a policy that covers any debt I have and any expenses that will be needed for my final disposition. I personally use Erie Insurance. I am not affiliated with them. My financial advisor recommended them and they had amazing rates. 

The last two things are not as easy and will take some time to accomplish. 

The first is a will. Find a lawyer to help you write up a will. I have seen families be ripped apart after a death because of the fighting that ensued over who got what. Death can tend to bring out the worst in people. Having a will won’t necessarily ensure that this will not happen, but it will definitely help.

The final thing I would recommend is getting a trust. Any of your assets that your beneficiaries may receive will need to go into the trust. The trust and the will should go hand in hand. This will help your loved one bypass probate. They won’t have to pay the considerable taxes that come along with probate. You will want to find a lawyer that specializes in this to help you complete it.

Everything I mentioned was very brief. You will want to dig a little deeper and make sure that you are doing the right thing for you and your situation. 

There is only one real thing that we are guaranteed in life, and that is that one day we will die. I want to make sure that I am at peace when that time comes. I want to be sure that whenever The Fight is brought to me, I can face it without the burden of wondering how my family or loved ones will deal with those financial burdens that could come if proper planning isn’t in place. Always remember, “Our responsibility to be READY for the FIGHT never ends”.