Do you own a business? Are you a key employee in a business? Have you thought about what would happen, if something unexpectedly happened to you or one of your key employees?
At My Life & Wishes we are all about planning. And that includes planning not only for your personal life but for your business too!
Where do you file your important papers and information?
If you’re like most of us, our information is scattered among boxes, file cabinets, in a home safe or safe deposit box or on our PC. You may not have thought about it, but these may not be the best places to store information anymore.
We’ve compiled a list of the top reasons why those choices may be outdated.
“Being in the financial planning industry for over 35 years and focusing on end of life planning, we’ve become accustomed to seeing first-hand what families go through after the death of a loved one. Many times, there is added pain and frustration because they just don’t know what to do.” Michelle Braddock, Co-Founder, My Life and Wishes Inc.
There are many expenses after a person dies. The most immediate being burial and funeral costs.
So what’s the best way for family or personal representatives to pay for these expenses? Should you write a check or pay for these expenses with the deceased persons’ credit card?
The answer is probably not! Even if you’re an authorized user on these accounts, it may be considered Fraud to continue to use them once a person dies.