While it may not seem like something that will happen to you, accidents are the fifth leading cause of death in the United States, so it makes sense to ensure that your children are supported both financially and emotionally in case anything serious were to happen to you. Here are four simple yet effective options to consider that you may or may not have already thought about:
It's important to maintain quality health insurance so that you can recover without a lot of financial stress if an accident occurs, but it's also important to make sure that medical and burial costs are covered in case a recovery isn't possible. A basic life insurance policy will provide your children or their new guardians with the funds needed to take care of any remaining bills, and possibly even give them some money to put away or use when it's needed. Talk to an insurance company like Reed & Baur Insurance Agency for more information.
Choosing caretakers for your children who are willing to step in and take care of them if you aren't able to is essential. This process should be officially documented by having your lawyer create a document that all parties can sign and have notarized. These documents will ensure that your kids go to the home you want them to, as opposed to letting the court decide which family members or friends they should live with. Make sure your kids spend plenty of time with alternate caretakers so a special bond can be made.
If you are not able to be there with your kids in person as they make their way through life, they'll certainly appreciate the emotional support of having things to remember you by as time goes on. Consider putting together a few memorial packages that can be given to your kids during special occasions of your choice as they age – each package should be filled with things like photos, a favorite item of yours, and event tickets to memorable events.
Getting new trinkets and family pictures to remember you by on birthdays or holidays throughout the years can be comforting and help to keep childhood memories alive that can be shared with your grandchildren – and even their kids too!
These options don't take a lot of commitment or time once they have been put into place, which makes it easy to stay prepared and keep your kids protected without having to spend much energy worrying about those pesky "what if" scenarios.