Terminal Illness: Getting Affairs in Order

A serious diagnosis changes everything. Amid the medical appointments, treatment decisions, and emotional processing, there’s another reality: practical matters need attention.

This isn’t about giving up hope. It’s about using the time you have to make things easier for the people you love. Many people find that getting their affairs in order actually brings a sense of peace and control during an uncertain time.

Here’s a practical guide to what needs to be done, broken down into manageable steps.

First: Give Yourself Permission

Before diving into checklists, acknowledge this: you’re dealing with a lot. It’s okay to feel overwhelmed. It’s okay to do this gradually. It’s okay to ask for help.

Some people want to handle everything themselves. Others want a trusted family member or friend to take the lead. There’s no right way. Do what feels manageable for you.

And if reading this becomes too much, bookmark it and come back later. These tasks aren’t going anywhere.

Financial Documentation

The most important thing you can do for your family is make sure they know where everything is.

Create a Complete Financial Inventory

Document every account and asset:

Bank Accounts

• Account numbers and banks
• Type (savings, current, joint)
• Online banking access (if you want to share this)
• Linked cards

Investments

• Mutual fund folios
• Demat account details
• Fixed deposits (amounts, maturity dates)
• PPF, NPS, and other retirement accounts
• Any other investments

Insurance

• Life insurance policies (company, policy number, sum assured)
• Health insurance details
• Premium payment status and due dates
• Nominee details for each policy

Property

• List of properties you own
• Where the documents are kept
• Any loans or mortgages
• Co-owners, if any

Debts and Liabilities

• Outstanding loans
• Credit card dues
• Any personal debts
• Guarantees you’ve given for others

Other Assets

• Vehicles and their documents
• Jewelry and valuables
• Digital assets (email accounts, crypto, subscriptions)

Where to Store This Information

Write it down. A simple document works. Some people use spreadsheets. Apps like Anshin are designed specifically for this purpose.

The key is that someone you trust knows this document exists and where to find it. The most detailed inventory is useless if no one can access it.

Legal Matters

Update or Create Your Will

If you don’t have a will, now is the time to create one. If you have one, review it to ensure it still reflects your wishes.

A will in India doesn’t need to be complicated:

• It should clearly name who gets what
• It should name an executor to carry out your wishes
• If you have minor children, it should name a guardian
• It should be signed in front of two witnesses

You can write a simple will yourself, but for complex estates or if you anticipate disputes, a lawyer helps.

Don’t delay this. A will requires you to be of “sound mind.” If your illness affects your mental capacity later, a will signed then could be challenged.

Power of Attorney

If there may come a time when you can’t manage your own affairs (whether due to treatment effects, hospitalization, or the progression of illness), a Power of Attorney lets someone you trust act on your behalf.

Consider creating:

• Financial POA: To handle bank accounts, investments, bills, and property matters
• Healthcare POA: To make medical decisions if you’re unable to communicate them yourself

A POA should be signed while you’re mentally competent. Don’t wait until you’re too unwell.

Advance Medical Directive

Also called a “living will,” this documents your wishes about medical treatment if you can’t communicate them:

• Whether you want aggressive life-prolonging treatment
• Your preferences about ventilators, feeding tubes, resuscitation
• Pain management preferences
• Where you want to receive end-of-life care (hospital, home, hospice)

While India doesn’t have a comprehensive legal framework for living wills like some countries, the Supreme Court recognized passive euthanasia and living wills in the Common Cause v. Union of India judgment (2018). The 2023 modifications simplified the process, requiring only notary attestation instead of judicial magistrate approval. A written directive helps your family and doctors understand your wishes.

Talk to your family about these preferences too. Written documents support conversations, not replace them.

Insurance Matters

Review Your Life Insurance

Check all your life insurance policies:

• Are the nominees correct and current?
• Does your family know these policies exist?
• Are premiums paid up?
• Is there a lapsed policy that can be revived?

If you haven’t already, ensure your family knows the term insurance claim process. Leave the policy documents where they can find them.

Health Insurance

• Understand your coverage limits
• Know which hospitals are in the network for cashless treatment
• Keep policy documents accessible
• Track what’s already been claimed vs. what’s available

For expensive treatments, understand the cap on your coverage. If costs may exceed coverage, plan accordingly.

Check for Group Insurance

If you’re employed, you may have group life and health insurance through your employer. Find out:

• Coverage amounts
• What happens if employment ends
• How your family should claim

Practical Financial Steps

Update Nominee Details

Check that nominees are correct on:

• All bank accounts
• Fixed deposits
• Insurance policies
• Mutual funds
• Demat accounts
• PPF and NPS

Incorrect or outdated nominees (like a deceased spouse or parent) create complications for your family later. Update them now.

Consider Joint Accounts

For accounts your family will need immediate access to (for household expenses, medical bills), consider:

• Adding a spouse as joint holder with “Either or Survivor” mode
• This gives them immediate access without waiting for succession processes

Discuss tax implications with your CA if the amounts are significant.

Settle What You Can

If feasible, consider:

• Paying off small debts
• Closing unnecessary accounts
• Consolidating multiple accounts into fewer
• Completing pending paperwork

Less complexity means less burden for your family later.

Organize Digital Access

Modern life is digital. Document:

• Email account access (often needed for account statements and communications)
• Online banking credentials
• Investment platform logins
• Social media account preferences (do you want them memorialized or deleted?)
• Subscription services that should be cancelled

Digital assets after death are increasingly important and easily forgotten.

Family Communication

Have the Conversations

Beyond paperwork, consider:

Financial discussions: Make sure your spouse and adult children understand your finances. This isn’t about control; it’s about preparedness.

Your wishes: Share your preferences for funeral arrangements, rituals, and anything else you feel strongly about.

Unfinished business: If there are conversations you want to have, relationships you want to repair, or words you want to say, consider whether now is the time.

Ongoing responsibilities: If you’ve been caring for aging parents or supporting others financially, discuss who will take this over.

If You Have Minor Children

This is particularly important for parents of young children:

• Name a guardian in your will (essential)
• Discuss your choice with the person you’re naming
• Consider how finances will support their care
• If the other parent is involved, discuss co-parenting arrangements
• Leave letters or messages if you want your children to have something from you

What to Do First

If this list feels overwhelming, start with these three things:

1. Write down where everything is. Even a handwritten list of your accounts and where documents are kept is enormously helpful.

2. Create or update your will. This is the most important legal document. Don’t skip it.

3. Tell someone. Make sure at least one trusted person knows where to find your information.

Everything else can follow from there.

A Note on Timing

Some people want to handle all of this immediately after diagnosis. Others need time to process before they can face practicalities. Both approaches are valid.

What’s important is not to delay indefinitely. Conditions can change quickly. Mental capacity may be affected by illness or treatment. Legal documents signed when someone isn’t fully competent can be challenged.

If you’re able to do this now, do it now. Your future self (and your family) will be grateful.

Getting Help

You don’t have to do this alone:

• Lawyers: For wills, POA, and complex estate matters
• Financial advisors: For reviewing investments and insurance
• CAs: For tax implications and financial planning
• Social workers: Many hospitals have social workers who help with practical matters
• Family and friends: Let people help you

What You Can Do Today

1. Start a list. Even just writing down your bank names and insurance companies is a start.

2. Locate your documents. Gather what you can find. Note what’s missing.

3. Pick one task. Maybe it’s updating one nominee. Maybe it’s drafting your will. Do one thing.

4. Talk to someone. Share what you’re doing with a family member or friend.

Getting your affairs in order isn’t about accepting defeat. It’s about taking care of your family in one of the most loving ways possible. It’s saying: even when I can’t be there, I’ve made things as easy as I can for you.