Do you have a Will? If not, what happens to your loved ones if you die too soon? Death is a reality, there is a family that grieving the passing of a loved one as you read this. The biggest calamity in many cases when death visit a family is not the passing on of somebody dearly loved but weather that person prepared adequately to allow those he or she leaves behind to face the world with dignity. First a dignified funeral, then the reading of the Will to ensure smooth transfer of assets, which must include life policies with adequate cover for the estate of the deceased to ensure that things such as the family home, valuable family silver or the business the family is dependent on are kept by the family, not by creditors. A nominated guardian is on standby should the survivors of the deceased be minors. All this need to be a thoughtful and deliberate part of every individual’s financial wellness plan.
To have your family evicted from their home three months after your funeral when you have more than one million lying in your pension fund makes a mockery of a dignified funerals service. The frenemies of your wife or husband will celebrate the fact that money was wasted on a funeral while debts were ignored or assume you spouse had to borrow money to give you a proper send off. A failure to plan properly should you die too soon is a plan to fail those you claim to love the most. Start with a will because where the is a will the a way.
The remember, a dignified funeral cost money, so ensure you have that covered. You must look holistically at your wellness plan, education for your children, a gift of money, either cash or an investment plan are things to think about when considering you legacy. Life policies is an integral part of your estate plan. Cars loose value, loans attract interest are some of the things to consider when developing your financial wellness plan.