I just read a NPR story (
From Grief Comes a Mission to Make Estate Planning Less Daunting) that referenced
this website that offers checklists and templates for getting your act together by having the necessary legal and financial documents done. It also provides some links to other sites. The site is created by Chanel Reynolds whose husband died at 43 after being hit while riding his bike. (read her story
here. His death was tragically early but also left a lot of complications as his wife did not know the passwords to their online accounts, they did not have signed wills, etc. although they did have some life insurance for him. Her new website is designed to help others avoid her predicament.
If you've been putting off all or part of this, perhaps this will help you get moving forward step by step. Tough stuff to think about so think about those who might have to struggle through dealing with things if you don't get this done while you can.
Thanks for the retirement and financial updates. I've used quite a few. I have a question though, I have a life insurance policy with my husbands company, not a lot but some. I also have an incurable cancer( in remission right now), is it possible to get term insurance with a pre existing condition?
ReplyDeleteWe just last year set up a trust and have most all our financial stuff in order.
Christina, I wish I were qualified to answer your question. Perhaps contacting the company with whom you already have a policy or an insurance agent who does business with numerous companies would get you the information you want. I'm glad my posts have been helpful and that your cancer is in remission.
DeleteThat's so sad... :( I'm in the "process" of getting all our ducks in a row! Thanks for sharing her site... i'm going to check it out! I need all the help I can get.. ;) lol!
ReplyDeleteGlad you are making progress!
DeleteThanks for posting this. One more thing we need to complete is updating our wills and creating a trust. My husband and I talk all the time and he knows exactly where everything is (I already do because I'm the financial person in the house!)
ReplyDeleteThe whole trust thing has me confused and I think its usefulness varies by state and the current Federal laws. We haven't done one as it was deemed not necessary when we met with a planner years ago. Time to revisit the question!
DeleteWe were unsure too, but my lawyer friend said its absolutely necessary. We don't even really have any assets per se, but still it keeps it out of probate and goes directly to your beneficiaries , in our case our kids.
DeleteI started out with Dave Ramsey's suggestions, that might be a place to start.
Thank you for the links. My husband and I are complete procrastinators when it comes to this stuff. Shameful!
ReplyDeleteNone of us likes to do this!
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