What You Need To Do For Your Children In Case Of Death

toddler and a baby

What happens to your children if you suffer a fatal accident? Here’s what you need to do for your children in case of your death.


by Troop Atomic Mommy

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No one likes to talk about death, and no parent ever believes it could happen to them. But the truth is, life is a mystery and we can’t control death any more than we can control lightning.

So, what happens to your children if something fatal happens to you? Do you know which family members will take them in? Do you know how you want to be taken care of post-mortem? Are there any financial obligations that won’t be covered by your life insurance? Can you guarantee that your assets will be enough to care for them through college?

These looming questions are not often thought about by young parents or fist-time parents because most of us can barely plan a few hours into the future. With this said, it is mainly yours and your partners responsibility to plan for your child’s future in the event something happens to you. So to help you plan for any situation that could negatively impact your children, we’ve compiled this quick list of things to get in order. Let’s get started!

Encourage You Kids to Live Fully

As a parent, you are your kids’ shining star. This means that everything they do, how they talk, and perceive the world, is based entirely on their interactions with you. If ever the time came where you could no longer be physically present in their lives, you’d want them to continue feeling encouraged by your previous teachings, morals, and principles.

Making this happen while you’re still with them requires a bit of planning and focus. You can take time to listen to their achievements, failures, woes, and wishes. Help them write it all down in a journal. Show them how much they’re loved by other family members. You can teach them how to trust and how to spot the liars and fakes. You can help them understand the importance of getting a good education. You can also inspire them to pursue their interests and hobbies, without concern for what others say or think. And you can provide them with a few life mottos to live by at any stage of life. Giving them these things, will better prepare them for a life that may not include you.

Get Life Insurance

While we don’t want to be grim or focus on a morbid subject, all parents should have some sort of life insurance. Life insurance is essential for protecting your children should anything happen to you. Nobody knows when their time will come and it’s important that you have a plan laid out for your kids should a situation arise where you’re no longer able to take care of them. Life insurance will ensure that your dependents – who you will name – will receive a pay out should you pass. This pay out will often largely depend on what monthly premium you sign up to and what kind of policy you are able to secure. Browse a variety of options to find the one that best suits your individual – and your kids’ – needs and requirements.

Have a Lawyer on Hand

Some parents already have lawyers in their contacts. Lawyers like Personal injury law and malpractice attorneys, but the kind of lawyer you need to handle your affairs post-mortem is an entirely different kind of attorney. These attorneys specialize in drafting wills, powers of attorney, and estate planning.

Now most people only think you need this kind of attorney later in life, closer to retirement or if you’re terminally ill. That’s a myth, though. Life is unpredictable, no matter how young you are or feel. And since all parents only want the best for the kids, it makes sense to start planning as early as possible.

Puff Up Your Savings & Investments

Having a savings account and making smart investments today, could potentially beef up the assets that you can leave to your children. Consider this a financial security blanket for them. With it, your children can essentially be set-up for many of their life’s milestones.

Think cars, college, marriage, house, and baby. More than these, extra savings can also be useful for any situation where your children may need money without much warning. Unexpected costs can come from anywhere, at anytime like unpaid medical bills, burial bills, pet veterinary bills, home and appliance repairs, or repairing a car.

Investments are also a great way to plan for your children’s future without you. Do a thorough search on the top up and coming best stocks to purchase. Hire a financial advisor to help you find other areas to invest in like money markets and the S&P. Ask a wealth manager to weigh in on stock buying, and the amount of shares you need to build a large nest egg for your kids.

The Takeaway

Whether you’re ready to start planning that part of your future or not, hopefully the above suggestions help you get the ball rolling.


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