One of the subjects that many of us avoid discussing is death. Talking about what happens if you were to suddenly pass away isn't the most pleasant kitchen table conversation, but it's actually quite necessary. Today we are sharing some simple tips to ensure that you do not leave a financial burden behind for your family to carry.
Have A Will In Place
It is essential to have a formal will put together in the event of your death. It doesn't matter if you don't own a lot of material items or assets. It still helps your loved ones know what to do with the things you leave behind. We have even the littlest things listed in our wills to go to a designated person or charity. Having a will gives your family a road map on how to close out your final wishes. You can purchase a kit from your local office supply kit, or go through a family attorney who offers this service. It costs a couple hundred dollars or so. Make sure you update it once a year since you can easily accumulate more items of money each year.Keep Your Documents In A Safe Place
We recommend a fireproof safe to keep all insurance papers, social security info, stocks/bonds, photographs, and any proof of assets. Don't forget to give your family members information on where you keep the keys to the safe, or any passwords associated with accessing documents. Keeping all of your important documents in one central location makes things so much easier for your loved ones to find.Make Sure You Have Enough Life Insurance
Death can happen at any time. We have no guarantee that we will live to be 100. Having ample life insurance eases the financial burden that might be left behind for your children, spouse or loved ones to handle. The bills don't stop coming even after you pass away. Making sure your loved ones have enough money to cover the cost of your funeral expenses, outstanding bills, mortgages, and even college tuition for your children is so important. We have witnessed firsthand the panic and struggle when a loved one dies, and you are left to figure it all out.Jenny Life Insurance offers a quick and easy way to get affordable coverage with the simplicity of an app. You can download the app for your iPhone or Android device. All you need to get a quote is your birth-date, state you live in, and your gender. A little slider pops up for you to adjust it to a monthly payment you are comfortable with. Check out my previous post for more details.
You're never too young to start planning for the unknown. Be sure to visit Jenny Life online for more information. You can also find them on Facebook and Twitter.
Life Insurance is so very important. I have one for both me and my husband, because life is fleeting and you never know when something will happen. Great tips!
ReplyDelete