What Happens When You Die?9:19 AM
For me, this is an especially touchy subject because my children have already lost a parent. My ex-husband passed away almost two years ago and so I am the last living parent for my three oldest. What will happen to them if I die today? I have no idea and that is a problem.
Without a will in place, the authorities could place my children with the state until a family member could petition the court for guardianship and there would be no way for me to weigh in on who that family member is.I currently have no life insurance, so there would be no money for a funeral or to fund my children's college education. The only money they would have to provide for their care would be their father's survivor benefits and mine as well.
I have drawn up a list of things that are important to handle, especially if you have minor children. I have already taken the steps to have all of these in place so that my family is protected in the event of my death.
- Designation of a Guardian for your minor children.
- A will outlining the beneficiary of your assets.
- Health Care Directive or Living Will expressing your wishes for medical care if you are unable to make the decisions on your own.
- Medical Consent Forms for your children should they need care after you pass or if you are severely injured for an extended period of time.
- Life Insurance Policy that provides financially for your funeral and your child's care if you pass.