We found an interesting story about the value of leaving behind a good End-of-Life plan by a woman who lost her mother and stepfather within a period of 10 days.
Rebekah Barsch said some of the pain of losing her parents was eased because they had a solid End-of-Life plan in place. “The best present my parents ever gave me, other than their love, was planning for their long-term care needs,” Barsch said. “Because their financial and health care needs were being met, I could concentrate on providing love and support as a daughter.”
Barsch believes the experience underlined the importance of having a solid End-of-Life plan in place. “Living through my parents’ health issues and ultimate passing showed me how planning comes to fruition,” she said.
When it came to distributing her parents’ assets, Barsch learned how all assets are not distributed equally. “We were amazed at the different experiences we had with the various assets that were left to us,” Barsch said. “The life insurance policies were the easiest to manage. That wasn’t necessarily the case with other assets in the estate.”
Barsch said her parents’ passing made her rethink how she views insurance as a component of her own End-of-Life plan. “When people think about insurance, they often think about whether they’re willing to take a personal risk, a risk that they become injured or disabled or die,” said Barsch.
“This situation forced me to look at it through the eyes of my children. I now ask myself, if I weren’t here, what kind of planning can I do that will make it easiest for them?” Like her parents, Barsch wants to ease the burden on her children as much as possible.
“This experience taught me thoughtful financial planning has a significant impact for those who are left behind.”
Read the story here.