Ever since my father passed away in February I've been thinking more and more about the inevitable, which is that at some point I'm eventually going to die (hopefully not for a VERY VERY long time) and being the natural planner that I am and now that I'm a mother I want to make sure that I have all my ducks in a row before that time comes. I want to make sure that my husband and my child are taken care of.
My father had a very small and simple funeral (per his wishes) but even the small, simple funeral that we had for him cost $13K! And that doesn't count the burial plot that he had already purchased years ago. Fortunately my brother had that extra money and was able to pay for everything, even more fortunately my father had kept up with his life insurance payments so hopefully my brother will be able to be reimbursed that money.
I've also seen recently on Facebook several people I know who have had close friends pass away unexpectedly leaving behind spouses and children. If I were to God forbid die unexpectedly at an early age I want to make sure my family is taken care of. So Kristian and I are now in the process of getting life insurance policies (just waiting for the paperwork to go through) which will be enough to cover funeral expenses, paying off the house and credit cards and Hunter's care/education.
I have also created a Will (which I did online and I'm just waiting to have it sent to me to sign and finalize). This was also very important to me because if something happens to me and Kristian I wanted it to be clear on who should get my child. I also made clear that any money/property that would go to Hunter should be put in a trust until he's 21 and listed who would manage that trust. I also listed who would inherit everything should God forbid me, Kristian and Hunter all pass away. Since I'm not a millionaire and don't own many items of value creating a Will was pretty simple.
Planning for your death is definitely not enjoyable but once you become an adult and especially once you have children it's a must. There is nothing more important than making sure that your child/children are taken care of should you not be there to do it. Even though signing up for life insurance and creating a Will have not exactly been fun I'm so glad I've done it and will rest easier knowing that my family will be taken care of.
Do you have a Will and/or life insurance? What other planning have you done in case you pass away?