New Year's Resolutions
With the new year comes a new set of goals and resolutions. For many, resolutions can be hard to keep and are often passed up on by February or March. At Matthew Funeral Home, we wanted to suggest some New Year's Resolutions that will help you plan for your future.
Spend More Time With Family
Resolutions are often reflected inward, focusing on things we do that we avoid; or bad habits we continue. But planning to spend more time with those you love is far from selfish. Working towards making new memories with those you care about the most is one of the best things you can focus on for the new year.
Create a Will, or Update it
Planning for the future also includes planning for death. Making an effort to create or update your Will. A properly prepared Will can help prevent probate and other issues for your family in the future. Speak with your estate planning attorney about creating a Will that is right for you.
Challenge Your Brain
Take steps to better your brain. Challenge yourself with trivia games, memory tests, and learning new things. Those who spend more time exercising their brains later in life can strengthen their cognitive skills and reduce the chances of experiencing memory loss. If you are accustomed to challenging your brain with crossword puzzles or the like, try more challenging versions.
Pre-Plan Your Funeral
Pre-planning your funeral can be a smart goal to set for 2019. Pre-planning helps you ease the burden of hasty funeral plans from your family after your death. Funeral pre-planning also helps you pay for the service ahead of time. Trusts for funeral plans can be set up in your name and accumulate interest. You can set up a payment plan or all at once. Funeral pre-planning trusts accumulate interest, which even covers inflations or price increases. Talk to your local funeral home about pre-planning options that are right for you and your family.
Families often lose out on a lot of inheritance because of taxes. You and your family can avoid this by planning ahead with gifting. One can provide up to $15,000 to any number of individuals each year without having to pay taxes on the money. This means that you and your spouse can gift up to $30,000 to each person of the family without having to worry about inheritance taxes. This means that you can gift money to your family as much as you see fit (up to $15,000), without them losing any of the funds. This is a good way to move inheritances early.
Teach your Family a Skill
Whether it’s your favorite hobby, or preparing a recipe that the family loves; it can be important to pass on your knowledge and traditions. This can be a great bonding experience, as well as a way to teach your loved ones something important to you. Passing on knowledge and family traditions is important to many families.
The author of this post is not a legal counselor. Matthew Funeral Home and its affiliates do not provide legal advice by articles. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for legal advice.
For almost 50 years, Matthew Funeral Home has been serving the Staten Island community. We can help with almost every aspect of your loved one’s memorial service. Our family is here to serve yours, every step of the way.