We would all like to think that we will live forever, but the truth is we do not get to pick the time we leave this Earth, so preparing yourself is the first step to being a responsible spouse and parent. Investing in life insurance, assuring your children are cared for and drafting a will with the assistance of a lawyer that specializes in handling matters of estates, are great ways to assure that all of your loose ends are tied up.
Invest in Life Insurance
Providing for your family after you are gone is an important step in taking precautionary measures in case of the unthinkable. Having life insurance guarantees that you will be leaving your family with something after you pass, so the sooner you start to pay into a life insurance policy, the more they will have to go off of when you pass away. Having a good life insurance policy will give you peace of mind and will help your family alleviate the burden of losing you.
Assure the Caring of Children
If you happen to have children, one of the biggest questions you’ll face when discussing your own death is who is capable (and willing) to take care of your kids in the worst-case scenario. Obviously, it should be someone with a close relation to you and the children; whether it’s a sibling, cousin, or close friend, you should know them better than most and vice versa. You should also take into consideration if they already have children, where they are living, and whether you think they would make a good parent. For example, someone that is living the bachelor lifestyle in a loft apartment in Manhattan would probably not be the best choice.
Draft a Will
Once you decide on who will be getting the children in the untimely event of your passing, you should also decide what would become of your possessions. Drafting a will may seem a big cryptic, but its an important step to take to ensure the well-being of your loved ones. Talk to a local attorney that specializes in writing up last wills and testaments. For example, a California probate attorney can help you clear up any claims to land and possessions if you happen to live in Los Angeles.
The truth is that you never know when you’re time is up; so putting it off until you’re older is not the best course of action.