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5 Tips For Purchasing Life Insurance For Aging Parents

Conversations that most people do not look forward to having are the ones surrounding making preparations for death. That’s why there are so many people who don’t have a living will and haven’t purchased life insurance. It’s simply a topic that they would prefer to completely avoid. If you can relate, while we certainly understand where you are coming from, the reality is that all of us will pass on one day and so it’s actually a sign of great care for the ones we leave behind to take out a life insurance policy beforehand.

So, what if you’re not getting one for yourself, but for your parents? Well, being that they are older than you and there’s a greater chance that they will die within your lifetime, that can make it all the more uncomfortable, but also all the more necessary. If you would like some tips on purchasing life insurance for your aging parents, we have enclosed five that should make the entire process much easier for you:

Know that it’s needed. Sometimes people are tempted to procrastinate with getting a policy. Then, when a loved one passes, they are stressed out with trying to figure out how to pay for funeral costs. So that you won’t have the added financial strain of paying to bury your parent(s) and so there can be an estate left for you and your siblings, it’s best to get a policy as soon as possible.

February 23, 2013

Family

Unexpected Costs That Come With Having Kids

There are all kinds of expenses tied up with starting a family, such as the medical bills inherent in gestation and delivery, the cost of childcare if both parents work, and the price of diapers for the first couple of years. And as they grow older, attendant costs only increase, with clothing and toys becoming more expensive as the years pass. But it all culminates in college, which will cost parents a pretty penny if they want to send their kids to some of the top rated schools. The thing is that none of these costs is totally unexpected. While you might have to run the numbers on some of the items associated with raising a child, you at least know that these expenses are on the horizon. Unfortunately, there are also a number of costs that could spring up and catch you totally unprepared. But knowing the possibilities could help you to sock some money away just in case. So here are a few potential expenses you may have to contend with where your offspring are concerned.

You know that kids have to be fed and clothed, but did you ever consider that they will put an added strain on every single one of your household expenses? You might think that adding an adult resident to your home will have an impact on the utilities, but chances are you won’t expect your water, power, and gas to go up when you bring home your little bundle of joy. And yet, when you consider all of the concessions that infants require you can see where the added expense comes in. For example, babies need frequent bathing (although not in a full tub). But the larger issue is the increase in dishes and laundry you’ll have to do, especially if you opt for cloth diapers.

February 16, 2013

Family

What Assets A Prenuptial Agreement Can And Cannot Protect

Prenuptial agreements are becoming more and more popular with couples everywhere. In most cases, couples draft and sign prenuptial agreements in order to protect their assets in the event of a divorce in the future. Some still view the idea of a prenuptial agreement as overly materialistic and contrary to the ideas of love and marriage. Others would call those people naive. Whatever your views on this kind of marital contract, if you are considering a prenuptial agreement it is important to know what it can and cannot protect in the event of a divorce from your spouse.

Rights and obligations with regards to property can be outlined in pre nuptial agreements. For example, if either spouse owned one or more homes before marriage, the obligations for maintaining those properties can be restricted to the owner in order to avoid financial burden on the other spouse. Likewise, the prenuptial agreement can protect the rights of ownership to those properties. The option for selling or leasing any properties owned before marriage can be protected and left as the sole right of the original owner. This is an important consideration for property owners and non-owners alike.

February 11, 2013

Family

How Much Does It Cost To Have A Baby?

A beautiful baby is something that many of us dream of having someday. And while it goes without saying that a bouncing baby boy or girl can bring so much to our lives, it would be totally irresponsible (plus, a bit delusional) of us to ignore the fact that while children are a worthwhile investment, they are also a pretty expensive one.

According to an article that was published in Forbes magazine in the summer of 2012, it would appear that a child, on average, costs $235,000 to raise and guess what? That’s before factoring in their college education. So, in preparing for a bundle of joy, what are some of the things that you need to have in place to make things less financially burdensome? We’re so glad that you asked:

A job. You would think that this one would be a no-brainer but the reality is that with the kind of economy that we (currently) have, a lot of individuals are struggling to make ends meet. It’s one thing for an adult to live off of Ramen noodles for a week. A baby needs a lot more than that. Therefore, steady income is an absolute must.

Health insurance. OK, who doesn’t groan at the thought of this particular topic? Even if you do have a full-time gig, your employer may not offer the best of benefits and if you are an at-home or contracted worker, it’s usually up to you to come up with your own insurance plan. A child needs a pediatrician. This means you need to have the means to pay for it. This means that you need some good health insurance.

February 3, 2013

Family

5 Fun And Inexpensive Family Activities

One thing about having children is that they are constantly looking for ways to be entertained. So, while parents find the idea of sitting on the couch and reading a book on the weekends to be absolute heaven, they know that their kids are not going to settle for more than a couple of hours of peace and quiet. This means that there have to be activities “on tap” for parents to be able to provide.

The wonderful thing about this article is that you don’t need to spend a lot of money to apply any of these recommendations. Indeed, there are many things that you can do that are fun for both children and adults with the added bonus being that they are also relatively inexpensive. Here are just five of them:

Do some arts and crafts. A part of the joy of having a child is that they love to learn to do something new. Whether it’s finger painting or jewelry making or learning how to knit or crochet (or even build models), consider setting some time aside to do some arts and crafts. It’s nice quality time that you can spend with your child and certain learned activities can stay with them for years to come.

January 29, 2013

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