A mother of five has the ultimate & # 39; fearless folder & # 39; so that her family would know what to do with her possessions should she be seriously injured or die unexpectedly.
Deidre, from Victoria, said she decided to put together a fireproof safe after a wrist injury left her bedridden and forced her husband to take care of their five young sons – all younger than six – while recovering.
Her wrist has healed and she is back to work – but Deidre said she couldn't help wondering what would happen to her family if something serious happened to her.
So she prepared a safe, including documents and her fearless answers & # 39; to a series of & # 39; important questions that would be asked & # 39; if she would die.
An Australian mother of five has the ultimate & # 39; fearless folder & # 39; so that her family knows what to do with her possessions if she is seriously injured or dies unexpectedly
& # 39; It's about preparing for the worst, so that your family is financially protected. You can be perfectly healthy for a minute and then become incapacitated the next time, & she said in Mums Who Budget & Save.
& # 39; Last year I fell, breaking my wrist. I slid over the water on the bathroom floor and landed hard enough to undergo surgery and a plate to fix it. I'm fine now and I was very lucky I didn't hit my head, but it got home how quickly things can change.
& # 39; This raises the question: what would happen to my family if something serious happened to me? In the case of my broken wrist, our income was seriously affected because my husband had to take time off to look after the children, fortunately only for a relatively short period of time, while my wrist healed. & # 39;
Deidre – who has five young boys, including two twins – said she was the & # 39; main breadwinner & # 39; is in her family.
& # 39; So if I suddenly get seriously injured or die suddenly, my family would end up in a very bad position, so it's very important that I'm prepared, & # 39; she said.
She used a checklist from & # 39; The Barefoot Investor for Families & # 39; by Australian author Scott Pape to help her collect everything her husband and children needed.
Using a $ 79 watertight, fire-resistant safe at Bunnings Warehouse, Deidre put together a folder with important documents and instructions for her family.
& # 39; I am the main financial organizer in my family, if anything should happen to me, finding out all this stuff would be very difficult for my husband, and finding out a financial nightmare is the last thing a grieving person needs & # 39 ;, she said.
She used a checklist from the book & # 39; The Barefoot Investor for Families & # 39; by the Australian author Scott Pape, to help her compile all the documents and data that her husband and children need
The & # 39; fearless answers & # 39; include & # 39; who will raise our children if we both die? & # 39 ;, & # 39; At what age should the children get an inheritance & # 39; and & # 39; what are my funeral wishes & # 39 ;.
In the vault she added both her husband's wills and her power of attorney, birth certificates, marriage certificate, passports and paperwork.
She also included instructions for her funeral, such as the kind of memorial she wanted and details about her executor, accountant, lawyer, and financial planner.
Deidre also has the & # 39; large list & # 39; which contains all its social media, super reports, bank accounts and login details.
She recorded her net worth – a list of all assets and liabilities and details about her life insurance policy and income protection.
& # 39; I have ensured that I am insured for a large amount because I have a large family with young children to support. I have my husband as my binding death show on my super and he has me as his. You have to specifically ask for this, & she said.
The mother said she also wrote small letters to her husband and five sons.
& # 39; In case my death was sudden, so I have a chance to tell how much I love them and how special they are to me, & # 39; she said.
Since organizing her & # 39; fearless folder & # 39 ;, Deidre said she is confident that her family will be taken care of if she should get injured or die.
& # 39; This is probably the most important thing I have ever organized, I feel a relief that this is being done so that my family is taken care of. I thought I'd share it with others because it's such a great idea that every family should do this to protect their loved ones, "she said.
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