Get Your Affairs in Order
Shannon has a relative who just discovered she has cancer. She is a single mom with two kids. What are the best financial steps she can take?
QUESTION: Shannon on Facebook has a relative who just discovered she has cancer. She is a single mom with two kids. What are the best financial steps she can take? Dave talks about making sure she is right in her spiritual walk as well as having her estate affairs in order.
ANSWER: The old saying is, “Do you have your affairs in order?” meaning do you have your spiritual life in order? Are you right with God; have you accepted Christ? Do you have a will? Do you have the paperwork of your life organized so that someone can handle that, and have we made arrangements for the two children if something—God forbid—doesn’t turn out well here?
Before you get cancer, not only should you have done those things but you also should have made sure you have good life insurance in place. A good rule of thumb is about 10 times your income on you. Term life insurance is very inexpensive at zanderinsurance.com. That’s where we recommend you get it. That’s where I get mine. And doing a will needs to be done in your state because those are the laws that will dictate your estate. Probate laws or estate laws are not federal laws. They’re state laws, so you need to have a will that is specifically drawn up for your state. You need to have those kinds of things in place.
If all of that stuff is prepared, it makes it less worrisome to face these horrible things people have to sometimes face.