Life is so uncertain and that is why everyone, including you, should have a plan in place if the unthinkable happens….you die. ……Face it; you really never know what could happen even in just the next few moments. However if you are brave enough to ask yourself the question ‘what would happen if I wasn’t here?’, you could be ultimately saving your loved ones from headaches adding to their heartache should anything happen to you.
At Lifetime we are still amazed at the amount of new clients we come across who want to leave something to their families, yet when we look at what would actual happen if they die it reveals a very scary scenario. While they may have been very astute at investing, they have not sat down and asked the following questions and consequently have left their families exposed and unprotected.
The big questions
If you were to die tomorrow, how much income would your family lose?
Does your spouse or significant other make enough to enjoy the same standard of living without you around?
Do you have provision to be able to replace your lost income for many years to come so your family doesn’t have to alter their way of life?
If you have children and you leave no money behind, how will they pay for university? How will your spouse pay for the mortgage on your home? Anything that you may have intended on paying for going forward will need to be covered, which is hard to accomplish if you leave nothing behind.
While it is a bit morbid to think about death, it is necessary. You need to ask these questions so you can plan for them. Whilst you may hope you never need to put your plan into action, your family will be glad you were brave enough to ask these questions if something ever happens to you. Your reward will be total peace of mind knowing you have protected and provided for your family even after you are gone.