Even though we don’t like to think about it, it has to be done. We have to protect ourselves as well as our families in situations if something was to happen to us. Nathan and I have been working on these things below to make sure our kids and each other would be taken care of if something was to happen.
- A will. The biggest thing with having a will is you know where your children will go if anything were to happen to you and your husband. I know here in Georgia, the law says if both parents die and there is no will, then the children will go to the maternal mother, in that case, it would be my mom. In some states, it doesn’t even have to be a formal legal document put together by a lawyer. It can be a piece of paper as long as you sign it with a witness signature and have it notarized. A will is also a statement to say where all your belongings will go. You don’t have to hire a lawyer to put together a will for you, although it is suggested if you have a complicated personal or family situation. There are softwares you can purchase or online programs that will help you put together a simple will. We used Quicken WillMaker.
- Life insurance. Some employers offer life insurance. But you will have to see how much that is worth because it may not be enough. And if you are a stay-at-home mom like me, your husband will need financial help if something were to happen to you. He will need help with household things and perhaps hire someone to help with the children. So it is important to be financially taken care of in these situations. A term life insurance is all you need until the children are out of the house.
- Financial accounts. You need to have access to money. Don’t have everything in your husband’s name because he makes the money or because he takes care of the finances. You need to know where the money is coming from, where it is going and you need access to it. Much easier if you and your husband keep separate accounts.
- Fire-safe waterproof safe. To hold all your valuable documents in case something happens to your house. Documents such as passports, birth certificates, emergency contacts information (how many of us memorize phone numbers anymore?), marriage certificates, insurance information and so forth.
- A best friend. Someone who you can talk to and tell everything to in case something were to happen. Someone you can trust to help out with your kids if need to. And someone who is familiar with you and your family.
» Tell me… Do you have some or all of these things done? How prepared are you for something like this?