Life Happens… Life Insurance Awareness Month

September 1, 2019

Our days are full. Our lives are full. We continue in our daily routine. But then something happens – the car doesn’t start, there’s a storm which makes the fence fall, the washer stops working mid-cycle. After the initial panic and stress, we utilize our resources and find a way to prioritize that and get it fixed. Perhaps a neighbor or our partner lends a hand, or we contact a handyman or the warranty company. However the larger “somethings” take a while to fix – the car needing new parts, the fence damaging the water line, or the appliances that need replacing – which alters the way that our days and lives function. Multiple resources are required to help continue our daily routine.  In some cases there is no way to fix the something and we need to stop our lives and re-evaluate what life will be like now. The resources cannot fix or support us – but Insurance can help.

There are so many types of insurance – car and home insurance are the most commonly marketed along with health. Every year – the National Association of Insurance and Financial Advisors dedicates September to Life Insurance Awareness Month. They launch a site and full spread of marketing materials on www.lifehappenspro.org to educate the public about the importance of planning ahead for the “life happens” moments. Life insurance has been misconstrued as a product that is only available for individuals with excess or resources but there are several options for all types of people.

When you search “insurance” in google – 4,960,000,000 results – pop up. How do we find the time, the right advisor, and the right type of insurance for your personalized needs?

Go to the well-known companies – the ones that show up in the top 10 search or the ones that are advertised in your life (television, billboards, newspapers, flyers in the mail). They often have resources that inform about product types before even interacting with the sales area.

Go to someone based on referral – the ones that your friends or neighbors recommend.  Family members alwayss have an opinion on something and even a negative story can steer you in the right direction. If you don’t have a community of people in your life to ask, putting an “ask” out on social media will provide comments that could be useful.

Go to a website that provides prices – the ones that can give you information without interacting with people. It’s tough to know what is a good price without knowing a ballpark range. An example of this is insureyouknow.org which provides a quote directly to your inbox after answering a few simple questions.

Insureyouknow.org can support you with your life insurance needs by providing you quotes directly on their website. There are also other InsureYouKnow.org product offerings to help you reference those important records when the “life happens” moments occur. It’s a safe place to store all the information in case you need to access it remotely – or from the comforts of your own home. An annual plan is available to support your budget needs.

6 Reasons You Should Hire a Lawyer to Write Your Will

October 15, 2018

It’s easy to procrastinate when it comes to writing your will. Not only is it unpleasant to think about your own death, but also determining how to distribute your assets sounds like a complicated process. You may not even know where to begin.

But begin you must. Creating a will and storing it somewhere safely like InsureYouKnow.org is one of the most important things you can do for your loved ones. A will ensures your wishes are carried out as you intended and your family is provided for and protected once you are gone.

Luckily, writing a will is actually a fairly simple process—especially if you get professional assistance. While you may be tempted to write one yourself using one many of the do-it-yourself kits available online, hiring an attorney who specializes in estate planning usually is the wisest decision.

Here are 6 reasons you should hire a lawyer to write your will:

1. Your estate is complicated. If you have a very simple estate, you may be able to write your own will. But in general, that applies to a small pool of people. If you have significant assets, minor children, your own business, or other complicating factors, you definitely want to let a professional handle your will.
2. You don’t want any mistakes. When it comes to your will, you want to make sure all your i’s are dotted and t’s are crossed. From getting the wording exactly right to making sure all your documents are properly signed and witnessed, there are a lot of steps involved in creating a valid will. Make sure it’s done right the first time so your loved ones aren’t dealing with a headache later.
3. You want to save money. True, hiring an attorney isn’t cheap. Generally speaking, a lawyer will probably charge around $1,000 to draft your will—and it might cost more depending on your circumstances. But a lawyer also will talk you through various tax strategies that can save you and your family money in the long term.
4. You need more than a will. When you use a basic template or create your will online, you’re getting a will. End of story. But an attorney will help you create a comprehensive estate plan. This will include your will along with a number of other important documents, such as a health care power of attorney and a financial power of attorney.
5. You don’t know all the laws. Legal documents are complicated. Different states have different requirements. And the laws are always changing. There’s a reason lawyers are paid the big bucks: They know the laws, and they stay on top of them. A lawyer will worry about the details on your behalf.
6. You haven’t thought everything through. You have a basic plan for your assets. You know who’s getting the house and how your savings will be divided up. Great! But who’s going to take care of your dog? What happens if you outlive one of your heirs? Lawyers have seen all these situations play out in real life and know how to address them in your estate plan.

Once you’ve created all your estate plan documents, it’s important to store them in a safe place and let your loved ones know where they are. At InsureYouKnow.org, we promise to keep all your critical files safe and secure. Simply upload your documents to our portal and let someone you trust know how to access them. Life is complicated; we help you uncomplicate it.

Last Will vs. Living Will: What’s the Difference?

July 19, 2018

After you sign up at InsureYouKnow.org, the first thing you’ll want to do is compile a list of all the important documents you want to upload and store on the site. Most likely, at the top of your list will be your will. But take note: You should have two wills, a living will and a last will.

So what’s the difference?

A last will and testament is the document most people think of when they think of a will. It provides instructions on how to distribute your assets when you die. This is where you explain who gets your house, your cash, or any other valuables. There are a few different types of last wills, including simple wills (for uncomplicated estates), testamentary trust wills (for estates that involve a trust), and joint wills (for two individuals who want to leave their estates to each other), but they serve the same purpose: to ensure your estate is distributed as you desire.

A living will is very different from a last will. This document has nothing to do with the distribution of property. Rather, a living will is a type of advance directive that spells out the medical care you would like to receive in the event you become incapacitated and cannot communicate your wishes on your own. In other words, a living will provides a way for your loved ones to know your preferences regarding the following:

• The use of CPR if your heart stops beating
• The use of mechanical ventilation if you can no longer breathe on your own
• The use of feeding tubes if you can no longer eat or drink on your own
• The use of antibiotics and other medications
• Organ and tissue donation

According to a recent study published in the journal Health Affairs, less than one-third of U.S. adults have completed a living will. Of the 795,909 adults included in the study, 36.7 percent had completed some type of advance directive, including 29.3 percent who had completed a living will. While it’s not an enjoyable experience to sit down and imagine yourself in a situation where you can’t discuss your care with your doctor yourself, it’s incredibly important that you do so as an accident or other unexpected situation can occur at any time.

Of course, it does no good to write down your wishes if no one knows. You also have to tell your loved ones the document exists and explain where they can find it if the need arises.

“As I like to say, the form is only as good as the conversation and the shared understanding that goes along with it,” Dr. Rebecca Sudore of the University of California, San Francisco School of Medicine, who wasn’t involved in the study, told Reuters Health. “Some people do fill out these forms with families or lawyers, and then the forms sit in the dusty recesses of a back drawer and they are not available or shared with family and friends, especially before they are needed.”

Creating—and sharing—a living will can help your loved ones tremendously in case of a crisis. Do them and yourself a favor by completing one today and uploading it to InsureYouKnow.org. The peace of mind you will be giving your loved ones far outweighs any momentary discomfort the task may bring.

End-of-Life Planning: More Than a Will

June 12, 2018

As the saying goes, nothing is certain but death and taxes. Many of us, however, spend more time making sure everything is in order for the IRS than we do for our loved ones. And when we do take the time to create a will and discuss our burial preferences with our family members, we tend to stop there.

But there are so many more details involved in our deaths than who inherits our collection of first editions and where we want to be buried.

NPR’s “Weekend Edition” recently featured a story on Amy Pickard, whose mother died unexpectedly in 2012. As she handled her mother’s estate, Pickard was overwhelmed by all the questions she couldn’t answer, from what her mom’s smartphone passcode was to how to access her bank account.

“[I had to] become a detective basically,” Pickard told NPR.

Determining what bills needed to be paid and tracking down her mom’s car title would be difficult enough on a good day, but trying to piece together the puzzle of her mom’s life while grieving made things so much harder. It took Pickard two years to fully settle her mom’s affairs.

To help prevent others from going through the same difficult experience, Pickard founded Good to Go!, which offers private parties and consultations to guide individuals through their end-of-life paperwork. Based in Los Angeles, Pickard holds a party at her home once a month where people bring food that reminds them of a deceased loved one and complete a 50-page document she calls the Good to Go! Departure File. By incorporating a relaxed, fun approach that is filled with humor, Pickard makes the process less daunting and more manageable.

The Departure File includes a template for a living will, which addresses the medical care you’d like to receive in the event you are incapacitated and can’t communicate your own wishes, from the use of CPR if your heart stops beating to your preferences regarding organ donation. It also addresses minor but important details such as whether you’d want a TV on or music playing in your hospital room. In addition, the Departure File includes a booklet covering all sorts of information your loved ones will need after you die, such as:

• Contact information for friends and business associates
• Passwords for your email and social media accounts
• Plans for your pets
• Instructions for what to do with your photos, journals, and other personal items
• Obituary preferences (whether you want one and what photo you’d like used)
• The location of letters you’ve written to loved ones to be read after you’re gone

Whether you use Pickard’s Departure File (available for purchase on her website) or create your own document, storing all your data in one place is essential. InsureYouKnow.org is the perfect spot. Be sure to upload this document along with your last will and testament, life insurance policies, health insurance information, and other important files. Your loved ones will be going through enough when you die; don’t make them go through all these unanswered questions as well.