Most people don’t think about the curveballs that life sometimes throw at us unexpectedly. Preparing for these curveballs can ensure a less stressful transition when faced with a scenario.
Make sure you have the below items or update outdated information:
- Health Insurance
- Life Insurance
- Automobile Insurance
- Home/Renter’s Insurance
- Power of Attorney
- Medical Power of Attorney
- Authorizes someone you trust to make medical decisions on your behalf if you are unable to make them for yourself.
- General Power of Attorney
- Authorizes someone you trust to act on your behalf in legal and financial matters if you are unable to make them for yourself.
- Medical Power of Attorney
- Executor of Estate
- An individual responsible for managing the affairs of a deceased person’s probate estate.
- Last Will & Living Will
- Dictates the way that your assets will be distributed and utilized following your death.
- Living Will
- States your wishes regarding life support if you are in a vegetative state or irreversible coma and cannot communicate your wishes.
- Guardianship
- You will need to appoint guardianship over your children if they are under the age of 18 in both a living or last will.
- Bank Accounts
- Make sure that you have an adult 18 years or older listed on your bank account as a beneficiary or survivor.
- A survivorship account is a joint account. If one of the co-owners die, the other will automatically be the sole owner of the account without having to go through probate court.
- Survivorship Deed
- If you want to transfer your property to someone following your death, you will need to make sure someone is listed on your property deed as a survivor.
- Those details will also need to be listed on your living and last will.
- Beneficiaries
- Add or update the persons you want your assets to be passed down to.