This article on family communication is by the Kinnect Team — Kinnect makes it easier for families to share information. Make sure those who rely on you have everything they need. Find out more about Kinnect »
Congratulations on your growing family! This is what it’s all about. No matter the age of your child or children, it’s time to be even more responsible, and that is easy to do with a bit of guidance.
Name A Guardian
Don’t let the courts decide who to pick to care for your kids in the event something happens to you. Be sure to name this person in your will, so definitely create one of those. Learn more Wills: 5 Quick Tips You Should Know.
What Type of Life Insurance: Term or Permanent?
You’ll want to be sure your family is taken care of if something ever happens to you. Life insurance can be Term (quite reasonable and lasts a set amount of time) or Permanent (more expensive, but doesn’t expire). Either way you go, be sure to let your beneficiaries know where it is.
The Responsibility of Power of Attorney
When it comes to your finances, the Power of Attorney controls everything from paying bills, managing investments and bank accounts, dealing with contracts, and tax filing. Make sure to put thought into the appropriate individual who fits the responsibilities.
Organizing Your Medical Decisions
You’ll want to create an Advance Directive, which will include: creating a Living Will, thoughts around Organ Donation, naming a Health Care Proxy and all other details that will help unload burden from your family in the event you are sick or in some kind of accident. Different States have different Advance Directive forms, be sure to select yours.
Get Your Paperwork Up to Date and Organized
Where do you keep everything? Does your family know where all of your important documents are? Everything above, and more (Accounts, Contacts, Passwords, etc) can easily be organized. Kinnect can help.
Who do you Trust?
Setting up a Trust can help your family avoid probate court, minimize taxes, and transfer property and finances to your heirs with much less red tape.
Knock out a few items on your checklist, then secure and share everything with those who matter most.
It’s really simple to set up Kinnect, it’s free for life for those who get Early Access, and it will change the way you communicate with your family for the better. Get Early Access now.