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:
- Do you have a will?
- Do you have a medical power of attorney?
- 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.