In my job as an insurance agent, I often tell my clients' employees that they need to make sure that they have a will in place that not only dictates what they want done with their stuff, but also what their wishes are for their children.
Case in point, this article.
From what I've read, MJ did not have a will (or if he does, it hasn't been disclosed yet). But the question is, who is going to care for his children? Or, you can ask yourself (if you are one of the fortunate ones who have children) what will happen to your children if you pass away before they turn 18?
Wills (and trusts) are so important to establish when you become a parent. You need to be the one who selects who is going to care for your children upon your passing. If you don't have the best relationship with your parents (or your in-laws), do you want them to be assigned the job? What if you have no close relations? Do you want the state to decide what to do with your kids?
So please, if you take anything from MJ's passing, take this: be proactive in who will be the ones responsible for your children when you no longer can be.
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Tori, you're so right. My mom begged me to create a will for her so I would be completely protected in the event of a sudden passing (I'm an only child) and I just dragged my feet for two decades. When my mom was diagnosed with end-stage cancer, she looked at me, weakened in the hospital and asked in a sort of exasperated, sarcastic way "can you do it now?" and I said, "yes, of course mom." And I did. It was especially difficult to actually come to the hospital with witnesses and a notary to have my mother sign the will. It made me feel so gross and shady - she was really very ill and was having trouble breathing and here I was shoving papers onto her dinner tray for her to sign. Gave me chills. But it was my OWN FAULT for not having done it for all of the years she'd asked me previously.
She died 11 months later - so I could have waited but with her being so sick, no one knew how long it would be. I know it gave her enormous peace of mind that nothing she'd earned would be gobbled up by Uncle Sam.
By contrast, should I be lucky enough to wind up with a healthy pregnancy after all of this - I expect to do a thorough will at 20 weeks that addresses what happens to any surviving child of mine, what happens with the money, the house, etc.
I'm glad you encourage people to do it - it's so very important at any age!
I totally agree Tori! Working at a lawfirm, I'm exposed to Wills and POAs (Healthcare & Durable), I can get them for FREE, but I've still not done them. Def if I ever have a child I'll be sure to get one.
Thanks for the suggestions for insurance! Cobra is too expensive for us (544.something or other a month) so we won't be going that route unless it is just for a month or so. We don't live in Arkansas, but I will google it and see what I can come up with for the state I do live in. Russ actually pays OOP for Asurant so we will most likely just change his plan to a family plan.
I'm very sorry about your recent BFN. Good luck with the decisions that this is forcing you to make. I know they are difficult. I'll keep you and your hubby in my thoughts.
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