Overview

Preparing for the inevitable death or disability of a spouse or other loved one in your household. Nothing can be more difficult than losing a spouse or other loved one and dealing with the accompanying grief. But coming in a close second to losing a loved one would certainly be doing so unprepared, whether the loss was unexpected or due to a long-term illness and knowing it would eventually happen. Certainly part of the difficulty is being unprepared to deal with picking up the pieces and handling all the household tasks that are required-managing finances: budgeting, paying bills, handling health insurance claims, filing tax returns; taking care of household maintenance, managing all the household accounts, and dealing with the necessary legal documents and actions relating to death or disability. This book is designed to help you through many aspects of preparation for that inevitable day when the entire burden falls to you. If the managing partner (the one performing administrative tasks) dies or becomes disabled, assuming the role of the managing partner can be overwhelming. Preparing in advance to handle that role won't eliminate your grief, but at least it can make the transition tolerable-hopefully not catastrophic. This book stresses the importance of preparing for the death (or disability) of spouse or other loved one. It instructs on how to prepare for the logistical and practical aspects of death or disability. Including: -Advance preparations for eventual death and post-death actions -Disposition of asset and benefit accounts: to terminate individual accounts and benefits, continue receiving income, initiate change of ownership or payments to beneficiaries. Continuation of joint accounts or jointly held assets. -9 things you need to know to avoid financial difficulties after a death -Basic financial principles to live by and a guide to taxation of asset accounts -Tips on managing healthcare expenses and claims -Considerations to be aware of if you're a senior or if you are designated as an executor on an estate -Practical reasons to have a last will and testament (11 reasons) or an appropriate trust (10 considerations) to dispose of or ensure ongoing management of assets. (being wealthy isn't a factor) -Practical helps/processes/tools to streamline and manage administrative household tasks including: paying household bills, budgeting, manage medical expenses; manage legal documents, maintain household systems and upkeep, track personal property, maintain insurance policies, manage accounts providing household services -Instructions and helps for finding and organizing household documents and culling/destroying irrelevant or obsolete documents -Personal internet security and other security measures

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9781977981905

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A retired career financial advisor, Mr. Redd has helped numerous clients to prepare for retirement, leaving a legacy, and for the inevitable loss of a spouse due to death or disability. Personal family experience has informed the creation and publishing of this work.

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