Every Household Should Have a Budget - Legal issues

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Mortgage and Lending with Bay Equity, LLC 770-634-4021 NMLS #206275 GA 25689

 

Every Household Should Have a Budget and every household should have the legal affairs in order.  I am not an attorney, and I am not gving legal advice. What I have learned is that once we start our careers, it is time to manage all financial aspects of our lives.  This series of blogs have covered everything from preparing a budget, looking at savings, insurance and banking.  It is also important that we have the necessary paperwork in place "in case" something should happen.

So, let me ask a three important questions:

  1. Do you have a will?
  2. Do you have a medical power of attorney?
  3. Have you made arrangements for your children should something happen to you?

In a will you declare your intentions for the disposition of your possessions.

A medical power of attorney, will give a specific person the ability to make decisions about your care if you are not able.

If you have children making arrangements for their care is so important.

Don't waste any time.  It is time to take care of these matters now.

Every Household Should Have a Budget - Getting Started

Every Household Should Have a Budget - Step 2

Every Household Should Have a Budget - Savings

Every Household Should Have a Budget - Checking Account

Every Household Should Have a Budget - Life Insurance

 

Every Household Should Have a Budget - Auto Insurance Policies

Every Household Should Have a Budget - Get young children involved

 

 

 

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Kathy Sheehan Senior Loan Officer

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770.634.4021

F:

404.745.8060

 

Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

800.BAY.3703 Bay Equity LLC NMLS ID#76988


 

 

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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

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Ambassador
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Kathy this is so important. How many people do not follow these steps. They do not have a will, they are in denial about power of attorney, (I will live forever).  They make no arraignments. I would suggest no matter how painful it is to follow your recommendations.

Sep 08, 2013 04:50 AM #1
Rainmaker
647,093
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

Noah, yes it is important and all too often ignored.

Sep 08, 2013 07:43 AM #2
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Kathy- great information.  It's something that people put off because they're busy working and also just don't want to think about it.  

Sep 08, 2013 09:30 AM #3
Rainmaker
647,093
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

Kathy, most don't think about it until it is needed.

Sep 08, 2013 10:05 AM #4
Rainmaker
445,704
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

Important questions many do NOT want to deal with.  Important also that a will is not a set it and forget it kind of thing.  Should be reviewed when children reach adulthood, and again approaching retirement with elder care in mind.

Sep 08, 2013 10:09 AM #5
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Kathy Sheehan

Senior Loan Officer
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