Tuesday, October 7, 2008

Life Crash?

How prepared are you for a life crash? (i.e. death of spouse, loss of job, long term disability, etc)

9 comments:

Anonymous said...

Not at all. Losing my husband is one of my greatest fears. He really is the rock in our family, and I don't know how I could adequately handle raising our children alone. Not to mention the loss of his income. My life really would be in crisis if anything happened to him. I pray to God that He protects me from that.

Anonymous said...

not very

Anonymous said...

we're about to leave our child to go on vacation....and i was just thinking maybe we need to have a will prepared in case something happened to us....really i thought maybe i'll just type up something and sign it without talking to my husband cause i don't want to argue about who will get our kid...isn't that horrible?

DeeDee said...
This comment has been removed by the author.
Anonymous said...

In response to anonymouse #3, you REALLY need to have a will. God forbid, if you and your husband die at the same time your family needs to know your wishes regarding your children and your other assets. You DO NOT want the state involved in your affairs. Not only is not having a will bad tax planning, you don't want your family fighting over your children etc. YOu need to talk this over with your husband and create a will and trust.

You also NEED to have TERM LIFE INSURANCE that will cover 10 times your yearly income. That sounds a little excessive, but it really is not. Which is another reason why you need to set up a trust in additon to a regualr will.

Death will be hard enough without leaving your spouse and or children in financial disaster

Anonymous said...

No one can be prepared for that stuff.

Anonymous said...

We have a will as well as extra insurance for a long term disability. Finincially we are totally prepared, but emotionally not at all.

Anonymous said...

not prepared at all.

Anonymous said...

We are prepared finacially we are prepared for a spouses/child's death. Not at all prepared for loss of jobs.
We will never be emotionally prepared, how can you?