Monday, March 10, 2008

Planning for Baby's (and our) Future

The reality that Justin and I are going to be parents soon is hitting us, and making me think in ways I've never thought before. It's made me realize, we've GOT to plan for our family's future.

Advice from my parents and grandparents, and seeing some of their successes and trials they've encountered have taught me lessons that I have to deal with sooner than later.

According to CNN.com, insurance rates are at historic lows. It's also common knowledge that when you're young and healthy -- that's prime time to buy into life insurance.

Being pregnant has also made me realize this: if something happened to Justin (God forbid) what would happen to me now that I have someone else to care for? It's not just me anymore. Likewise, if something happened to me, how would Justin manage? I'd really like to have the comfort and assurance that we'll be okay.

Going even further than that, what if we both died? It's not something I like to think about, but now with our daughter on the way, I want to make sure she's taken care of. We'll have to look into trust funds and figure out guardian(s)...

Since we have a house, now we need to have a will drawn up too. So we have a lot to get sorted out right now. But it's something really important to me, and I want to have a plan worked out before August.

We'll try and get a package for life insurance in both our cases-- with each other as beneficiaries and our daughter & guardians in the case of something happening to both of us. We're going to get disability, because if something happened to either of us that prevented us from working-- I need to know we'll be okay. Long term healthcare is important too, so that if and when we need help living, we'll be able to afford it. A trust set up for our kids so that her guardians can't squander all our money, lol. And a will, so that our possessions will be handed out according to our wishes.

It's a big task! Hopefully we'll get this daunting list sorted out soon.

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