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How to prepare your spouse to run your finances in your absence

Discussing one‘s death is not easy. But if one prepares for it well, then his family will not be affected financially.

When you get married, you no doubt envision a rosy future with your wife and the thought of preparing for unforeseen events probably never even enters your mind. While you plan for a life together eternally, you do need to consider reality as well. Failing to plan for what to do when you die can be emotionally and financially draining for your loved ones. They will already be distraught after you are gone – why not make things a bit easier for them by at least planning ahead so that they won’t be overburdened with complex decisions?

Preparing your spouse to handle your finances

1.    Get your documents in order: Whether it is personal, vehicle or properties, insurance papers, get these in order and file them with your legal advisor, with a copy of these documents with other family documents. Don’t forget to get your will legally done so that your family won’t have any hassles later on. File your will along with your insurance papers, children birth certificates, your marriage certificate, list of assets, bank information and any authorization or nomination papers and let your spouse know where you have kept them.

Read More: https://www.moneycontrol.com/news/business/personal-finance/how-to-prepare-your-spouse-to-run-your-financesyour-absence-968708.html

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