𝐃𝗼𝐜𝐮𝗺𝐞𝐧𝐭𝐬 𝐭𝗼 𝐩𝐮𝐭 𝐢𝐧 𝐩𝐥𝐚𝐜𝐞 𝐛𝐞𝐟𝗼𝐫𝐞 𝐲𝗼𝐮𝐫 𝐝𝐞𝗺𝐢𝐬𝐞

Financial security is one of the greatest forms of love because it provides peace of mind and stability for your loved ones.

Have you ever had someone close to you die and you couldn’t locate any of their financial documents? Or have you thought of what would happen if you passed and how your assets would be allocated to your loved ones?

By taking the time to prepare your finances you can help your family and children avoid unnecessary financial stress and uncertainty during a difficult time.

Here are documents to Include in your final love letter;

Will.

A legal document that outlines how your assets will be distributed after your death. Ensures that your assets are distributed according to your wishes and avoids potential disputes among family members.

Letter of Instruction.

A document that outlines your wishes for how your assets should be managed and distributed after your death. Provides important guidance to your loved ones and can help ensure that your wishes are carried out.

Guardianship

A legal arrangement that designates who will take care of your children if you are no longer able to do so. Provides for the well-being and care of your children and ensures that they are placed with someone you trust.

Trust or Estate plan.

A comprehensive plan for how your assets will be managed and distributed after your death. Ensures that your assets are managed and distributed according to your wishes and can help avoid potential legal disputes.

A Trust also ensures that your Portfolio is maintained as you managed it yourself and that non of your assets are sold. Should they decide to dispose of them, terms and conditions are put in place by yourself.

Power of Attorney.

A legal document that authorizes someone to act on your behalf in financial or medical matters. Ensures that someone you trust can make financial and medical decisions on your behalf in the event that you are unable to do SO.

Life insurance.

A policy that pays out a sum of money upon your death. Provides financial support for your loved ones and can help cover expenses such as funeral costs, outstanding debts or future expenses for your children like college or buying a home.

Retirement accounts.

Accounts such as NAPSA or Private Pensions with your employer that provide income in retirement. Ensures that your retirement savings are passed on to your beneficiaries and can help provide financial support for your loved ones.

Do an introspection of how you would like life to continue after you’re gone. More importantly, pass on Financial wisdom/ knowledge to your loved ones before it’s too late. That way they’ll take care of your assets long after you’re gone.