10 Ways to Future-Proof Your Family
To ensure that your family is protected, you will want to keep reading on these 10 ways to future-proof your family. When you keep these in mind, you will provide you and your family peace of mind.
Make a Will
A will gives you peace of mind that your family will get taken care of when you pass away. It will allow all affairs to be sorted out quicker and easier.
Get Life Insurance
With life insurance, your family, or other dependents, will have extra money for things like bills and other expenses if you were to pass within the terms set out in your policy.
Establish a Savings Account
A savings account is something that lets you set aside money that is less likely to be touched. This can be a helpful resource for your family or loved ones.
Review Your Investments
Reviewing your investments and rebalancing them, if necessary, is vital if you want to ensure your family will have access to an important source of money.
There are 25 states, plus Washington DC, that let you transfer the deed of your property upon your death. This enables you to avoid probate on it and more easily get it into the hands of your family.
Create an Information Essentials Document
You should put together a document or spreadsheet that contains important information, such as passwords, bank accounts, investment accounts, insurance information, and more.
Establish Power of Attorney
A reliable power of attorney will let you name somebody who can be in charge of decisions on your behalf.
Establish a Living Trust
A living trust ensures your wishes will be followed upon your passing, and all your assets can become appropriately distributed.
Keep Everything Current
You should make a habit of revisiting all your future-proofing plans, making sure they are up-to-date and reflect what your intentions are.
Create a Digital Time Capsule
A digital time capsule is a great way to store your favorite memories, messages, and other mementos for your family in the future. If you happen to not be around in the future, your time capsule will live on, allowing cherished memories to be reflected on. Skypod is a novel way to create a time capsule. With it, you can share memories and messages with your loved ones, either during or after life.
To make the deal sweeter, all the documents mentioned above can be stored INSIDE Skypod.
Now that you know how to future-proof your family, you can protect them when you are not around. Tomorrow is not promised to any of us, so take steps to help your family in case the inevitable happens sooner than you expect.