Monday, November 26, 2007

Does Your Spouse Know Where the Money is?

If you Die, Is Your Money Mapped? - Dumb Little Man : "If I died tomorrow I can honestly say that my wife would have a hard time navigating through the spider web of bank accounts, insurance policies, and 401k plans that I'd leave behind. No, it's not because they are worth a lot, it's because I don't have a map telling her where everything is located."

Most people are not well prepared for death in many ways, but this can be very hard for a family.

I am not even sure I know where all our money is sometimes. My wife recently got a statement from an old account her Dad had set up for her.

My family almost died once already when a drunk driver crossed the median of the interstate. You often can't see death coming so it is best to be prepared before hand. When Arafat died there was quite the bedside vigil as they may have been hoping to get the offshore bank number where he had squirreled away so much money.

I am working on this and it is slow work sometimes trying to find it all. But it is worth doing and setting up a way for family to find it after something might happen.

No comments: