It takes so much time to plan how to live that many people never take the time for – nor realize the importance of – planning how to die. While at first thought it might seem like the simplest and final aspect of life, anyone who has looked into the complexities of estate planning will realize that the choices to be made and stress caused is enough to kill you.

Once again, financial planning software can come to the rescue. For a price tag of $40 to $60, someone can save thousands in attorney fees just with the sample legal document templates alone. The savings can grow much larger when you throw in the time saved tailoring a plan to handle final expenses and convenience of having all decisions about that time made in advance.

Wills and Living Wills

While not specifically classified as financial planning software, computer packages that help draw up living wills and division of property can save a consumer a great deal of money. Traditionally, someone wanting to plan what happens to their money and belongings after they die will go to an attorney specializing in the field, and tell them what they want done. The attorney will write down the particulars and have their assistant draw up the paperwork, then charge a $1,000 or more for the service.

Using estate planning software, a person can read through a tutorial, answer the same questions an attorney would ask, and print out the necessary documents – all just as comprehensive and legal – for less than $100. The software will cover the same ground as an attorney and make the estate planner aware of all the obscure elements of the task, such as paperwork for requesting life insurance benefits, cancellation of newspaper or magazine subscriptions, or settling outstanding debts or joint accounts.

Beneficiaries

Perhaps the most important aspect of estate planning is deciding who gets the money – or that antique sewing machine. In many cases, if a person dies without leaving the proper instructions, the state gets the money – or the beneficiaries end up on Judge Judy arguing with each other. As such, any estate planning software package worth buying needs to show you how to make provisions for closing banking accounts and transferring investments for the heirs with the least loss due to taxes or fees.

As is the case for most aspects of financial planning, Intuit Inc., maker of the Quicken packages, offers the widest assortment of products in this area. From drawing up a will to the transfer of assets before and after someone dies, these products are fully compatible with each other and cover virtually every aspect of estate planning. They are not the only tools available, though. There are several integrated and stand-alone packages that can help handle a stressful and distracting time.