Dallasblack.com: Things You Must Do Before You Die: A Financial Bucket List

loading...

Monday, September 17, 2012

Things You Must Do Before You Die: A Financial Bucket List

By: Madame Noire

Things You Must Do Before You Die: A Financial Bucket List
Death is never a subject many people like to think about. But there are several financial steps you need to take to prepare for the inevitable.

According to a new Forbes article, “7 Money Musts Before You Die,” there are key things to do to make sure your family not only inherits your fortune but also understands the family´s financial situation.


Here’s what Forbes suggests:

1.    Make sure you have adequate life insurance.
2.    Update beneficiaries on retirement accounts, annuities and life insurance policies.
3.    Research whether you can add beneficiaries to your other assets, such as bank and investment accounts.
4.    Draft a will.
5.    Consider creating a trust. This is an option to take especially if you have a complex financial or family situation.
6.    Try to involve your spouse in family finances.
7.    Make a record of where everything is.


Besides these steps there are others things to do, according to Investopedia like take stock of what you own, make a list of your debts, the organizations you belong to and charities you support.

You should also make a list of all your social media passwords, so your family can close your email, Factbook, Twitter and other online accounts, a modern issue that tends to get overlooked.


Join Our Weekly
Or Daily Newsletters!
64x64

Comments

Recommended Articles

Latest Photos

View All Photos

Photogallery Image
Porsha Williams @ Villa Lounge 3.19.16
Photogallery Image
MYA Live @ Hard Rock Cafe
Photogallery Image
Winstons Fridays With Lance Gross 2.26.1...
Photogallery Image
Akoi Saturdays with Marlon Wayans 2.20.1...

Featured Events

SAT, JUL 23RD 2016
Special Interest

Chris Tucker Live @ Verizon Theatre

Verizon Theatre- Grand Prairie
THU, MAY 5TH 2016
Parties/ Happy Hours

Therapy Thursdays Happy Hour - Complimentary Buffet

Villa Grill
SAT, AUG 13TH 2016
Concerts

Maze ft. Frankie Beverly, Chaka Khan & Raheem DeVaughn presented by The Silent Partner

Verizon Theatre- Grand Prairie
MON, MAY 9TH 2016
Concerts

Beyoncé: Formation World Tour @ AT&T Stadium

AT&T Stadium
All Events