Getting Married or Committing to a
Serious Partnership
When you get married or are in a
committed partnership, it becomes
more important to have the above key
documents to so that your new love
will have decision-making powers
for medical and financial decisions
should you become incapacitated.
If you die, your partner may need
access to finances quickly and easily
to support themselves. Having a plan
in place is not only your obligation,
it’s an act of love. Purchasing life
insurance while you are young can be
extremely beneficial, and provide not
only temporary benefits, but financial
protection for your spouse and family
at a lower fee for years.
In Your Initial Working Years
When you are in college, and in the
initial working years after you’ve
graduated, you should, at a minimum,
have basic healthcare and financial
Durable Powers of Attorney (POAs) to
give a parent or loved one the right to
make medical decisions on your behalf
and to take control of managing your
finances if you’re medically unable to
do. A living will is critical to tell your
family what you would want if you
are on life support. A basic will is also
helpful when you start to build some
financial stability, and you should have
beneficiaries named on all bank and
insurance accounts, including worksponsored
401k accounts or individual
retirement accounts.
You will live on in the hearts of your friends and
family through cherished memories of shared
experiences.
That’s true family wealth
14 WomanToWomanMagazine.com
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