What Happens When You Die

Even death is not to be feared by one who has lived wisely. - Buddha

When you reach the end of your life, those you leave behind are left to handle any of your unfinished business. Things are pretty difficult emotionally as it is when somebody dies. You can bless the loved ones you leave behind if you "live wisely" by leaving clear instructions for handling your death and any unfinished business through some basic estate planning.

Leaving the emotional aspect aside, much of what happens initially after a person's death is very administrative in nature. For example, funeral, religious service, and burial arrangements must be made. Family, friends, and acquaintances must be contacted. Condolences are given and received.

Did You Know? Many funeral-related functions can be ironed out well in advance as part of your estate planning process. There are some specialized estate planning firms that (for a fee) handle this more relational, event-planning side of the planning process. You can "live wisely" and help your loved ones, without being too morbid, by informing them of your wishes regarding funeral and burial arrangements. You can, if you wish, make your own funeral and burial arrangements in advance. Beware, though, and use wisdom if you choose to enter any prepaid funeral or burial arrangements.

As for your estate, somebody will formally or informally end up handling your estate. Hopefully, the bulk of your assets will transfer automatically by a probate avoidance technique. If not, the estate must go through probate, where any assets will transfer according to the provisions of your will or, if no will was made, according to state intestate succession laws. Along the way, the person handling the estate will have to pay any related probate costs and pay off the estate's bills, creditors, and estate taxes (if any).