It is an unfortunate fact - all of us will someday die. Kind of sobering isnâ€™t it? Well, since we know it is coming, we plan to offer you tips on how to plan for the inevitable. As you know when you leave this earth you will leave lots of things behind. Most important of which will be your family and whatever estate you have left. The following tips should help those left behind after you pass away:
Tip #1 -Have Plenty Of Insurance
When you pass away more than likely someone (or many someones) will be relying on the income that you bring to the table each day. For this reason, having enough life insurance should be your number one priority. No one really plans on dying. However, since we all do it, you will want to make sure that your spouse and any children can focus on their grieving instead of focusing on how to buy food and pay the bills. A good rule of thumb for the amount of insurance you need is ten times your yearly salary or income. While this may sound like a lot of money (it is) getting a good term life insurance policy can take care of that financial obligation for very little cost in premium. Another important area to make sure you get insurance for is your own burial. Yes, burial insurance will cover the costs associated with your funeral. Make no mistake, caskets burial, cremation, etc cost a lot more than you think, however, that is what the funeral insurance will take care of for you so your family doesnâ€™t have to worry.
Tip #2 - Create A Will To Avoid Probate
Tip #3 - Â Spend Lots Of Quality Time With Family and Friends Now
When most people die those left behind wish they had more time to spend with the person who has passed. Although you never will solve this problem completely, our next tip would be to spend time with your friends and family much more regularly than you are now. Those people around you are very important and you should make it a point to visit them more often, go out to dinner, attend parties, etc. Make sure your relationships are as strong as they possibly can be.
Although not very fun to think about, death for all of us is a reality. We hope these tips will help you, even if it is after you are gone.