Preparing for the loss of a loved one.

I know this topic will probably turn a lot of people off solely with the title.  But this is a topic that really needs to be addressed before something bad happens, because the loss could be you, and you family may have to make do without you.

Keeping track of your finances is something that you should be doing regardless.  Knowing your financial status allows you to be a smarter consumer.  It also will help take care of your loved ones if something were to happen to you.  If the loss is not you, it will make taking care of all issues much easier.  Putting together a budget, with plans for savings, will allow for a more “normal” life is something happens.

What will become of your possessions?  Your properties?  Do you have a will, does your significant other have a will?  Are there any trusts set up for any children you may have?  Is everyone aware of them?

Finally, have you prepared yourself mentally for this eventuality?  I think this is the part that people have the biggest problem with.  We as humans do not naturally think about our own end.  If we open ourselves to the inevitability, we can make the process easier on everyone.  Just like going through mental exercises to prepare yourself for a football game or for a challenging hike or a race, having taking the time to envision what we will do or what types of decisions that will need to be made will give us confidence in our everyday lives that we are not going to be left, or leave a loved one, stranded.

Take the time to talk with your family.  Don’t leave to regret not saying what you feel or how you feel to your family.  Putting off these things will lead to regret.

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