Information on securing your family is usually centred around how to protect your family financially. There’s much more to it than that.
To you, this may go without saying but that isn’t the case for others. Some people know they need to make a will but they either can’t be bothered of never make the time to take the steps to set one up. It’s not enough to have an idea of what you want yours to say. You need to have it formally and legally created and witnessed.
Ask about these wherever you bank. This will ensure that, should your assets outweigh your liabilities when you’re no longer around, or your family need more help financially than your assets are able to provide them with, your family can get the cash help they need. Read terms and conditions very carefully before signing any contracts though. Yes, of course, it’s important to secure your family financially too.
Letters or notes explaining things that you need them to know
Please make sure to include medical history. This is very important. You may also choose to include family stories or just general stories that are funny or anecdotal, and also pieces of advice based on lessons you’ve learned. These letters could also include apologies for things you’ve done or said to people in the past that you know were wrong but you never got around to apologising for.
A breakdown of your family tree
It may not feel like it sometimes but the world can truly be a global village. Family member end up being separated through things like going off to university, transnational marriages and relocating for work. That’s how people lose touch with each other. Tracing back your family history and documenting as many family members in your lineage as you can will be hard work but it is also necessary. Attempt to create a family tree. Particularly if you have children of your own. Secure your family by giving them knowledge of their identity and background. They’ll be grateful for it at some point.
Full of as wide a range of memories as possible – both digital and otherwise if you can manage it. There’s nothing like visual reminders of all the great things that yourself and your family and other loved ones have done together in happy times. In sad times too.
This is the digital age full of passwords, pins, codes, Face ID, fingerprint ID and whatever else I’m sure I do t know about. People are having to remember a zillion passcodes and passwords. It’s vital to have them written out where they can be accessed but not with a lot of ease as they also need to be safe from criminals. A good place to keep these would be with your lawyer. Secure your family by giving them easy access to the information they need.
Breakdown of assets and liabilities
It’s essential to have a will. It’s also important to have a place where all your assets and liabilities are recorded. That’s because for some people, these may change in quantity faster than you can update your will. Having a separate list of what you own and owe, updated regularly, will be useful should an understanding of your assets and liabilities be required in the future.
What conclusions and realizations have you made/steps have you taken to secure your family’s future?