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

Tickle Me Pink Waxing Beauty Products & Services
Obsessions Boutique Clothing & Shoes

Latest Photos

View All Photos

Photogallery Image
#thelife Saturdays @ The Red Room 8.16.1...
Photogallery Image
Shark Bar Saturdays 8.16.14
Photogallery Image
#thelife Saturdays @ The Red Room 8.9.14
Photogallery Image
#thelife Saturdays @ The Red Room 8.2.14

Featured Events

SAT, AUG 30TH 2014
Concerts

KSOUL 94.5 The All White Affair Featuring Keith Sweat and Ginuwine

Music Hall at Fair Park
SAT, SEP 13TH 2014
Special Interest

White Diamonds Expo : Business Networking Event

TWU Hubbard Hall
SAT, AUG 23RD 2014
Parties/ Happy Hours

Day Ja-Vu :: The Ultimate Daytime Experience:::

PIRA (at the American Airlines Center)
WED, DEC 31ST 2014
Parties/ Happy Hours

4th Annual NYE Champagne Life

Old Red Museum
All Events