Widow's Advice: 5 Must Do Things for Proper Family Financial Planning

I was widowed when my twins were 11.5 months old. To read more about it go here.

If your spouse were to pass away, would you and your family be financially secured? If you were to pass away, would you leave your family in a better or worst financial position?

I've been in the financial services industry since 2015. I specialize in helping families properly financially plan using guaranteed and tax-free financial strategies. I'm going to share with you 5 Things for Proper Family Financial Planning based not only on my personal experience as a widow, but my professional experience as well.

1. Buy Life Insurance

   Whether you get a term life insurance or a permanent life insurance policy, it's one of the most important and foundational financial products you could get. Learn more about buying life insurance here. I am so blessed that my husband properly financially planned because he passed away so suddenly, yet my daughters and I were able to maintain our lifestyle. I'm still able to homeschool them and pay for their enrichment. I am able to hire a nanny and a housekeeper to help me. I was able to buy a brand new home. My husband's legacy lives on.

2. Update Your Beneficiaries

   Update your beneficiaries when it comes to your life insurance, savings accounts, investments etc. especially if your spouse was the beneficiary.

3. Get a Will or Trust

   If you have young kids you'll want to determine who will take over if something happens. Estate planning is important. Click here to learn about estate planning and getting a will or trust.

4. Organize all Your Important Documents

   It's a good idea to keep all your important documents in one area where both spouses know where to find it. In most relationships one person in the relationship knows a bit more about finances than the other. Both of you should have a general idea of your investments, debts etc in case something should happen.

5. Fill Any Financial Gaps You Have

   The worst time to find out that you didn't properly plan is when it's too late. If you want to have an idea of you current financial overview and see if there's any gaps that need to be filled, download your free blueprint here.

In this video I discuss proper family financial planning in case tragedy strikes.