From the time our children or grandchildren are born, we only want the best for them. When we give ourselves time to daydream about their futures, what does that look like beyond first words and steps? Beyond the first day of school and then graduation? College? Often times while we are thinking about their future, we aren’t necessarily thinking about how we could be investing in their financial future. I can tell you from personal experience that we always think we will have time to plan for these big events, but they seem to happen in the blink of an eye.
Death is not a popular subject. We don’t ever want to think of our own mortality, or that of our loved ones, but the hard truth is that it is something we will all face eventually. While this topic is an uncomfortable one, it is something we should all tackle sooner rather than later. After a death, loved ones left behind are not typically in the frame of mind to want to make monetary decisions. Careful planning beforehand could help ease the the pain in the aftermath of loss.