Three Ways To Get Your Finances In Order
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- Опубліковано 11 тра 2024
- Three Ways To Get Your Finances In Order
How To Get Your Finances in Order
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My only suggestion would be to put those important documents in a fire proof, waterproof safe. Included in there are insurance info ( acct #'s , phone numbers, etc. ) . If something happens, like flood or fire, those documents are safe. Plastic melts and eventually burns, or water may get in.
Well.... that is my two cents. Thank you for the video.
Such an important topic! A will and having all info and passwords together is a life saver
This is such a timely video for my family. We received a call Thursday evening that my husband's sister was taken to the hospital. She's 92 and lives alone. My husband is on her checking and savings accounts, but she wanted him to put all her bills on auto pay. She had to give each of them the okay because he doesn't have power of attorney from her. She's better, but we're not sure she'll leave the hospital. She's definitely not going to live alone, so we're working on that. It's amazing the amount of paperwork needed to take care of her bills. Your idea of having a designated box with all the information in it is genius. We'll certainly work on that when we get her settled. Great video! Love to all, Linda 💕
Thank you my dear
Family meeting.
Everyone on the same page.all important documents in one area,all neatly organized.
Important phone numbers organized and by the phone,as well as with important information.
Set up power of attorney.
Have a living will
If you want,have a DNR order in place
Get copies of medications and medical conditions and carry on your person,in case something happens and you can't advocate for yourself.have a copy with important information,too
God bless your sister-in-law and all the family
Sorry to hear that! 💙
Power of atty is SO important at any age. My 30yr old niece in St. Paul died alone in her apartment from pneumonia...no power of atty.....banks account...car..It is a mess.
I have a box in the same place for decades. Even when I moved a couple times, it's still in the same place, same container.
Fantastic
I need to work on a will, medical directives, getting account, insurances, contacts and passwords in order, beneficiary review - and a getaway bin in order in case I needed to leave quick in an emergency. Also need to get docs in my file cabinet scanned. I understand the importance; short class discussed widows losing their spouse and having no idea about anything as they were not involved in finances; this on top of the grief. Thank you for this very important reminder!!
I was widowed at 45. The things I had to go through then was tough, but it was before apps, cellphones and subscriptions! I remarried about 3 years ago. Last year I developed a form and it took quite a while,but each of us filled it out for every bill etc. It includes name, address, website, phone, email, user name etc. Would you like me to send it to you Dawn?
@carolynm9798 👍
Oh!!! If you have a service or wake, be SURE to have someone stay at the house during those times, police say many break ins happen because burglars know the house will be empty.
For sure
My husband and I don't have kids, but we keep talking about getting a will. This is making me do it instead of just talking about it. Thank you!❤
Do a Trust as well. Lessens your tax burden.
Very important topic. Thanks for sharing ❤
You are so welcome
Having a Trust is so important for your loved ones to access all your information.
You can have your beneficiary on your bank accounts to access them after you pass away.
We’ve done that for our 3 brown sons.
When my husband’s step dad passed away, it was a nightmare to get to his bank accounts because he and his sister were considered not next of kin. Well, he had no biological kin still living and never had biological children of his own. He did have a will but we had to wait to get his death cert etc. Took 3 weeks. We have a Trust for our kids. And they also have passcodes to our accounts as well
This is so Important information ❤
@@cjhoward409 Did your husband ever question why all your sons are brown? LOL j/k
I have everything in one place, so it's easy for the people who need it can find it. Great idea to make a list of people,friends, relatives, etc. to phone after somebody passes. I never thought of that. In the heat of the moment, you'll forget somebody important.
That's a great idea!
Keep the number for Social Security in your “Financial Affairs” file. Upon death inform the SS office ASAP.
Get extra copies of the death certificate from the funeral home as early as possible.
I have a list of music, hymns, for my service as well as preferred flowers for the alter. The order of service will be printed using the file I have at the ready. Packets of Forget-Me-Not seeds will be given with the order of service. I am also including a donation to my favorite charities made in my friends’ names to honor them.
If my family elects to do none of it that is AOK.
I want my family to not have a moment of worry that I didn’t love them and care for them in this life and beyond.
Great idea
This is a great vid, thank you. It's a pet peeve of mine. It's SO important to get this done NOW. (Just read the comments to see many who "need to do this"). I've been working 6.5 years on an estate! Call legal aid, senior centers, your state bar association (there are many free pro bono lawyers who will help you), the registrar of wills, even the library. Mine helps twice a year. In my state, you can even hand write your own will (yes, I did). PLEASE do not wait any longer. You will die, you may not have the time you think. Others will be filled with grief and shouldn't be burdened with the lack of organization, both with your finances and your home clutter you may have in your life. It's easy to make it easy for those you will be leaving behind. Just do it. 😊💛
Thank you
Good topic today, Dawn! Another thing, if I may add it....if you are planning on donating to your favorite charity out of your estate (when you pass away) contact that charity ahead of that time. Charities normally have a form that they can send you (to include with your will) that has a particular wording of leaving sonething of your estate to them.
That's a great idea!
My bank offers a "payable on death" option on any accounts...
No probate costs?
Many investment brokers like Edward Jones offer that service -- there, it's called "transferable on death".
This is good,but what if you become incapacitated? You also need a power of attorney so that the funds can be accessed while you are still alive.
@donnaw1835 yes u need both a will and a limited power of attorney.
Oh Dawn I have a lovely computer bag sitting beside me that is my office on a bag, it has my health folder and my financial folder. I spent $10 on Etsy to get printables so I can hand write all of my information, I do not want documents online with that info. I have also started printing everything out to have a copy of all of my bills. The list of people to call is a great idea especially for small businesses and investments. Also I have a Google doc that I share that has all emergency details but no passwords.
Excellent!
Brilliant
Very nice video
Great advice Dawn! Thank you so much! ❤
You are so welcome!
I love what you're saying and I know that I will have to eventually do this. But I worry about the timing, or having strangers get access to financial info, and
Account no. And passwords left in your home due to breakins etc. Believe me this happened to me. My home was upturned many years ago. They even went through my photo albums, all my cupboards, bedroom,
Closets, drank from liquor bottles. Which I threw out.
Rifled through books, CDs, video tapes went through my fridge and made themselves sandwiches! I found my tv in the backyard, where they dropped it. The police found my empty jewelry boxes 3 backyards away. They usually work in groups. Two for lookout and the rest are stealing your items. Thankfully cops did find them and they were arrested. Sandra
The hardest part is that you feel violated, unsafe, hard to trust, not to mention ALL the paperwork that has to be done.
I understand
I started this last summer, I wanted to make sure my family has all the necessary information on bills, banking info, taxes, insurances, etc. I have a file folder for each item, and put my account information/passwords on colored note cards for quick access to information.
I need to make a legal will and power of attorney and make a list with information financial affairs such a good idea
When my husband died 13 years ago he left me with three young children and nothing organised I had to do it all myself
I am so sorry
I have a will as well as a medical power of attorney , still need to do a power of attorney for my bank accounts
Last year, went to free Legal Aide. Had an Advance Healthcare Directive with my daughter, granddaughter's name (as a preferred second person if needed). Several pieces of paper that I checkmarked boxes of possible health scenarios such as DNRs and organ donation. This gives both me and my daughter peace of mind. If I did not do, a similiar procedure but with more immediate court visit steps if something suddenly happened. More time, complications.
Sounds smart
My daughters name is on the checking account too which means she also knows how much is in there, I didn't get that onto my phone, so I was writing out checks, putting stamp on them to be mailed which I did. All In front of her mind you. Then we got an over draft because she didn't tell me that there was not enough to cover them all. We (she) learned what adult communication was a few weeks later.lol.
Very important video
Glad you think so!
Hello Dawn,
Because I have a business I keep the accordion file box going each year with hard copy expenses. I would say look on your loved ones calendar also for upcoming appointments and events. It may be a good way of letting service help know whether or not they are still needed. Unfortunately not too many of my gardening clients families have called and given me a heads up of their loved ones passing..
Thank you for all the great tips. Enjoy your weekend.
Thank you
I often see people recommending to put a child or someone else on a joint account. I have been told that can be very dangerous! If that added person has a financial judgement against them like gets sued or causes a serious accident or is involved in a divorce etc., the money in that joint account can be seized as part of the judgement. Has anyone else been told that? A better option is to make sure someone has power of attorney and that your financial institutions recognize that power of attorney. It might require an additional form. That way, they can access your funds if needed but the funds won’t be included in judgements against them.
For those that don’t have family to inherit your estate when you die… you can make a Trust for a friend or neighbor or a charity. If you don’t, the government gets it all 😮
My experience with Trusts, I found out there are fees involved during the duration of the trust, especially if beneficiaries are under age. Just sayin'
wow great stuff. My hubby and I have a will in Canada, but we also own property in upstate NY. So we have a will in both countries. If you live in the USA and have a Caribbean getaway you should check if you need one in the other country also.
GREAT TALK TODAY COLLEEN IN CANADA
That is awesome!
This is one of your best videos !!!!!
Thank you
Happy sunday
Same to you
I have a fireproof briefcase (from Amazon) with all documents next to my “go bag” in the hall closet. My son knows where it is.
Brilliant
I need to get this stuff updated! Thanks for the reminder
Any time!
I have a folder in my file cabinet with life insurance, banking account info and password info. I not only told my son and DIL where it is but then showed them. I'm going to be working on power of attorney now after watching this. Thanks
I’d put those important papers in a fire safe box. Good in case of any emergency… flood, tornado, someone breaking in …
My Mom recently passed away (March 23) and the only real headache I've had is her checking account. They had to lock it down for 45 days, after that time, I will have access to it. My advice is put someone on your checking account, so they don't have to wait; I mean, it's not a big deal to wait 45 days, but still. Talk over the tough stuff with your parents (or whomever) and have all of your ducks in a row because you never know when God will call you home. Thank Goodness, Mom and I talked about all the tough stuff and I knew all of her final wishes, it really made losing her easier - if that's possible.
I am.sorry to hear about your lovely mom
@@CentsibleLivingWithMoneyMom Thank you!
😮Go through stored paperwork.
❤Keep what's Important.
😅Shred the rest.
Besides a Will, etc, another important paper to have on file, is Transfer of Deed (if you own property). Upon your death, your property automatically goes to person listed on Transfer of Deed. It negates the wait time, even if you have will, etc.
Thank you for this
Good advice !
Glad it was helpful!
Looking very pretty Dawn❤x
Thanks so much
Good points! Yes, it is so important, especially if you and your spouse are older, to have all your records up to date and available to the family. Thanks for sharing.
Thanks for sharing!!
We just met with my husband’s parents and helped them write down all of their passwords in case one of them dies.
Mine is all done. I update a few times a year. In my state if your home is in a revocable trust for three years prior to your death your family won’t have to pay taxes on it.
Wonderful
Such an important topic thank you
Thank you
I didn't realize I would need so many copies of my mom's death certificate. Between banks, life insurance agencies, stocks, and unclaimed property, I needed several copies and in our state they cost $26 per certified copy.
I did not know that
This is Good advice that many of us need to do. I have a will and my brother is my Power of attorney or Daul power of attorney....and he is on my bank account as well...😊
Great advice Dawn....thanks for the reminder.....😊😊😊
Thanks for sharing!
important topic that everyone needs to address. I scanned my passwords, banking info etc and sent it to my children, along with a list of where the important papers are, wills etc. Better to be prepared, thank you for sharing this Dawn, good job.
Thanks for sharing!
What you've spoken about in your video today is so important for people to be thinking about and taking action on. We never know from one day to the next which of us is going to pass away, possibly suddenly, so if all of that information is taken care of ahead of time, it's going to be so much easier for family to deal with if the worst should happen. Even young people die every day from various things...sometimes a sudden illness even. Not an easy thing to have to think about, but really necessary to get things in order ahead of time though.
Easter Sunday there was a couple from our little town that got hit by an old man who went thru a stop sign. He was killed and it killed the couple. Their teenage daughter who was in the back survived but in bad shape. One never knows what will happen from day to day. And nobody is guaranteed to live to be 90 or 100
@@cjhoward409 Amen CJ! You are so right, we never know for sure.
How true is that.😥
I agree
You are so right
Have everything in order,in one place
Have a list of important contacts ,bills,etc ready to go
Documents are our friend
Also, contact the 3 credit bureaus and put a freeze on the persons credit file so no one can open an account in their name.
Did you know within 3 months a persons death info is online? It is public! Social security records, number, name, birth and death dates!
Great idea
Thanks ❤
You're welcome 😊
Please note, a Power of Attorney is null and void upon a person’s passing. A Living Trust is more important than anything including a will. I’m a retired banker of 37 years and prior CEO of a credit union.
Thank you
My sister in law died suddenly and early. She didn’t have anything written down and her husband had to go to court (they were recently married and she didn’t have time to add him) it was hard and there was courts involved. It broke up the family.
I am sorry to hear that
Please check to see that access to any accounts is available by making them joint at a certain point. Had we not done that where Mom/Dad were, all funds would have been blocked until a probate was done. Soon as SSI gets that death notice- and it’s quick- things are put on hold.
Make someone trustworthy on your accounts as an owner not a signer. Signer and POA both end at death!! Owner will be able to access all accounts once you pass. All names will appear on the monthy statements but go to original person. No lawyer neccessary, just fill out papers at your financial institutes.
❤❤❤
Setting up a will is on my NY goal every year 😞
This is something we took care of years ago after a medical diagnosis. Frankly, it's another common sense issue nothing new.
This is so true. But it's also true that too many folks haven't done a thing about it!
Glad you are so prepared
We have our funeral expensives paid, but need a living Wii, and I will get the info this week from Doctors office. Our Daughter is on our accounts and she knows are debit card pin numbers. We also have a big plastic file folder that contains all she needs to have like title to care and mortgage title. Have A Beautiful Day Everyone ❤
Check with your state for which is better, a Will or a Trust. I know here in Ky we got a Trust done thru an attorney who told us that Wills can be attested.