Parenthood comes with a lot of responsibility and that weight is amplified if you’re among the 23% of single parent homes in the U.S. As a single parent, managing your finances and getting to a point where you feel comfortable are important as you take care of yourself and your family. Though your budget may be smaller than those in two-income households, there are many things you can do now and going forward to set yourself up for success and protect your family’s future.
Estate Planning in the Age of COVID-19
Everyone’s least favorite subject is also one of the most important things to consider during a global pandemic: estate planning, the topic that brings about both the discomfort of facing our own mortality and the urge to ensure our affairs are in order. Perhaps the emergence of COVID-19 prompted you to speak with an attorney and get the ball rolling, or maybe you’ve already had your documents prepared but want to confirm that they’re up-to-date. Regardless of how far along you are in the estate planning process, it’s always a good idea to revisit your plans to make sure that you have everything you need.
Life Transitions – Death of a Loved One
Losing a loved one is one of the most emotionally challenging events we face in life. In addition to the grief and heartache, there are many financial implications with which to contend that can be complicated by family relations and whether or not the person had his/her estate plan in order.
One of the greatest gifts you can give your loved ones is to be proactive and well organized in not only preparing your estate plan, but in communicating your intentions to your beneficiaries. Right down to the music you want played at your funeral, every detail you think through in advance will relieve the burden from those left to handle your estate so they can focus on mourning and honoring your wishes.
