Money Matters
MommyLiberty5013
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Death Plans?
In a previous discussion insideTrump's Tax Plan, vlagrl35, mentioned how death is expensive and you have to plan for it. Sorry, don't know how to make that screen name linked.
So, what are your death plans?
For us, that's just life insurance, wills, and accounts set up with PODs set to our separate estates (as advised by our lawyer). We also have letters written to our children and one another. I update my letters every few years, DH has not, which I get on him for, but he never gets around to it. He doesn't even have letters for 2 of our 4 kids...
Aside from that, that is it, we do not have any other plans.
You?
Re: Death Plans?
This is what it includes:
Information stored in the Legacy Box includes:
TTC since 1/13 DX:PCOS 5/13 (long, anovulatory cycles)
Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
1/14 PCOS / Gluten Free Diet to hopefully regulate my system.
Chemical Pregnancy 03/14
Surprise BFP 6/14, Beta #1: 126 Beta #2: 340 Stick baby, stick! EDD 2/17/15
Riley Elaine born 2/16/15
TTC 2.0 6/15
Chemical Pregnancy 9/15
Chemical Pregnancy 6/16
BFP 9/16 EDD 6/3/17
Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
www.5yearstonever.blogspot.com
I don't keep the whole document in there for everything. But I have the important pages in there. So for insurance, just the dec pages that show coverages and policy number. I don't switch it out unless we make a major change on it.
One of the first pages is a summary of our accounts. Mutual funds, 401k, bank accounts, insurance policies, etc. It has what kind of account it is, account/policy number, company it's with, contact information for the agency/investor/company.
The only thing we have the full document of in the legacy box is our life insurance policies.
TTC since 1/13 DX:PCOS 5/13 (long, anovulatory cycles)
Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
1/14 PCOS / Gluten Free Diet to hopefully regulate my system.
Chemical Pregnancy 03/14
Surprise BFP 6/14, Beta #1: 126 Beta #2: 340 Stick baby, stick! EDD 2/17/15
Riley Elaine born 2/16/15
TTC 2.0 6/15
Chemical Pregnancy 9/15
Chemical Pregnancy 6/16
BFP 9/16 EDD 6/3/17
Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
www.5yearstonever.blogspot.com
We also plan on setting up wills and health care proxies. Since we are likely choosing non-family members as guardians in the event of both of our deaths (still need to ask them...) I will also include a letter to our parents and siblings explaining our choice and requesting that they do not contest it in court.
I also need to set up a master list of all of our accounts with usernames and passwords.... I'm not entirely sure my husband would know how to pay the electric bill if I died! Oops.
We do have medical directives and POAs though.
We also have enough life insurance to cover us post-kids - it would pay off everything, provide for childcare, pay for college, and give the survivor enough to take an extended unpaid leave of absence to grieve/recover. We also have a pretty baller disability policy on each of us that is not tied to our jobs and even insures our retirement contributions and includes a COL adjustment each year. I will be happy when we are finally self-insured for both of those things, but it's going to be awhile.
I keep copies of everything in a shared google drive folder. I also have a list of accounts with password hints - H and I both know how to interpret them, and it would not be obvious if somebody hacked in.
Important documents like our wills we put in the safe at our bank - thanks for reminding me I need to get my mom to sign off on it. We recently switched where our safe deposit is with our new bank.
We don't have a ton of assets but I do need to get around to putting DH as POD on the house if I died. I'm the only owner on it now - had it before we met and paid it off before we met. I was too scared to put his name on it.
My friends and I have decided we're going to be a forest! There are special pods that you are buried in and you become the food for a tree (or mushrooms, or some other things). I told my husband I want to be a tree and when I'm fully grown I want to become a cool piece of furniture. But if I die before we finalize those plans he knows to cremate instead. Cemeteries give me the willies in life so I definitely don't want to spend all eternity in one.
Me and my husband haven't decided on a cemetery yet but we both want to be buried underground in caskets - the whole above ground kinda freaks me out.