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Practical Money Matters Radio Series

September 19, 2011
Accidents Will Happen–Are You Ready?


Here are a few ways you can ensure your family will be protected if something should happen to you.

Transcript

No one expects to get seriously ill or to die suddenly, but it does happen. That's why you need key documents outlining your wishes in case a serious event occurs.

Most importantly, make a will declaring who will receive your assets, naming an executor and guardianship of your minor children. Just make sure the people you appoint are up to the task.

You also need a financial durable power of attorney identifying who will manage your assets if you become incapacitated, a healthcare durable power of attorney to make medical decisions if you're unable, and a living will outlining which life-support procedures you do and don't want.

Bottom line: Hope for the best, but prepare for the worst.


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