I recently traveled internationally with a group of business men. Traveling without my family forces me to consider their situation if I was “promoted” (died) unexpectedly.
It’s uncomfortable and sad to think about this, but I’d rather be prepared than avoid discomfort.
Here are the questions I asked myself before my trip:
- Will my family be okay if something happens to me?
- Are there sufficient assets or life insurance to take care of my wife and kids? For how long?
- Who should my wife call to help her navigate the estate / financial process?
- Are there any holes / gaps in our finances that need to be addressed?
I know it’s uncomfortable. I realize it will probably require work. I realize you are busy, but we can’t afford to “wing it” when it comes to taking care of the people we love! Plus, you’ll experience more peace of mind after addressing these questions!