Financial Preparedness

These are important legal and insurance items to attend to. Indirectly they affect your long term financial well being and planning. Please seek professional legal and insurance counsel to discuss and complete these matters.

The Essentials

  1. Will. If you have children include a guardian for them.
  2. Durable Power of Attorney for Medical. Include:
    1. Do/do not resuscitate
    2. Organ donation
  3. Life Insurance, be sure to cover the non-working spouse because they provide priceless services.
  4. Long term Disability insurance.
  5. Emergency contacts - Keep a list at home where easily seen so paramedics, family or the housekeeper know who to call. Post where easily seen - e.g. posted inside a closet door or the back of the laundry room door.
  6. Long-term care insurance. Experience has taught me that people plan for their estate but not for a lengthy illness.
  7. Burial Instructions.
  8. Beneficiaries - Keep them updated on all retirement accounts, will amendments, life insurance policies.

Keep theses documents in one place, a file or safe deposit box. Make copies of all and give to your lawyer and or contact person. Keep the file updated.