When you’re a parent your whole world turns upside down, in the best way possible. Now you don’t have just yourself to think about, but your little one (or ones) to plan for and think about as well. In many ways, they will come first as well. Which is why planning for the future, with them in mind, is really important. It might sound a bit morbid, but should anything happen to you, don’t you want to know that they will be taken care of, exactly as you would want them to be? With that in mind, here are some of the ‘life admin’ tasks that should be taken into consideration, and should be worked on once you’re a parent, simply because there is now more than just you to be thinking about.
Do you have life insurance yet? If not, then now is the time to be getting some. When you have life insurance, it can mean that there won’t be any financial issues to think about right away, and it can cover the immediate costs that your family would need to make. As this article states, https://www.trustedchoice.com/life-insurance/whole-life-vs-term-life/ there are different kinds of life insurance to get. So make sure that you are doing your research first to find out what is going to be the best for you.
Will and Testament
Having a will is another thing that is important, even more so when you are a parent. For example, did you know that if you don’t have it stated anywhere in a will who will have the children if something were to happen to you, then it could mean some time in foster care while it is all decided. So simply stating your wishes is all you need. It doesn’t have to be something that is costly, but you will usually need a solicitor to be there to witness it.
Depending on the age of your own children, this could be something that you are going through with them; you need to have a rough idea of how you want things to go as you get older. Will you want to go to a care home, or perhaps look to stay at home as long as possible, using a site like https://www.careconnect.org.au/? It may seem way off in the future, but there is no time like the present to plan ahead for what might happen.
As your children grow, do you talk to them about your wishes for the future. It could be from the goals and dreams that you have for the future, as well as your wishes for further down the line. For example, do your loved ones know if you want to be buried or cremated? As random as a conversation as it may be, it will help that point in their life be much simpler and easier, when the time comes. Have you thought about these kinds of thing before?