By Kristy Phillips
Kim Jong Il, who ruled over North Korea for decades died Saturday of a supposed heart failure. The 69-year-old had lived a decadent life and shocked the world with his eccentric tastes and stretching the truth about his life and conquests. The West will not miss him. I perked up when I heard a reporter question how he died. His son, Kim Jong Un, is next in line to assume his father’s rule and maybe getting the power made the early demise of his father a very attractive idea. In North Korea things are not always reported accurately.
The cause of Kim Jong Il’s death really doesn’t matter, but the report made me think how important it is to get your estate planning taken care of and take care of inheritance issues early. I don’t know anyone who wants the sharks swimming around them in anticipation of their inheritance. The time to take care of your estate planning is early. Every estate should include a Durable Power of Attorney for Health Care. This document helps ensure that you avoid the possible problem that Kim Jung Il may have had. By citing who and how your final decisions are made, you can control your health care, even when you are too sick to make the choices yourself. Usually I recommend that two unrelated doctors help in this choice. That can put greedy beneficiaries at bay. The important thing is to get it done.