Topic: Preparing family financially for passing
There does not seem to be a lot of information accululated here on the issue of providing for your family after your passing. It may be because we continue to hope and pray that our Dr's terminal sentance will be wrong and if we think about it we will be giving in. I have heard more than one person tell me that. But - on the contrary - I think it is wise. And I think that if the patient is the person than handles the finances for the family that some clear direction and steps need to be taken before the cancer progresses too far.
I'd love to eventually be able to put together a "packet" of information for terminally ill patients to review to line up some of the things that will need to be taken care of in the event of their passing. Some examples:
1. Funeral prearrangements
2. Estate planning/will documents (they need to be done anyways, why not be prepared)
3. Life insurance information (if available) and how to claim it.
4. Many, many more.
I know that my wife has always trusted me with all of these sorts of things so I am writing out instructions in all areas to help her and then we will briefly review it so that when it is time, she does not feel overwhelmed.
I am also curious how some others of you may be using alternate ways to try to fund for children's eductations (for young patients with families, etc) or who have not been able to get life insurance due health issues early in life, etc.
During the last 8 years with my wife, it has been my job to be the financial provider, investment coordinator, and handle several things that she either didn't want to do or thought I was better with. As I work through a manual or notes for her on how to take over where I leave off I started thinking that so many people here on this website deal with the same or similar issues. If we can start a discussion on some of these topics and as I finish up my planning notes, etc. I would be happy to put together a generic packet of financial and legal issues for future users to download.
What do you think? Please offer as many comments as you can! Especially for the younger patients who may have kids involved this is an important area to evaluate!