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This journey we call Life...

It’s inevitable that at some point in this journey we call life there will be a life changing event. It may be your marriage, or the birth of your first child. Perhaps it will be overcoming some great trial, like a serious illness or life-threatening addiction. For many it is the loss of a loved one, through death or separation. Often it is the experience that brings you to a faith in God, or that "something bigger" than all of us.

“Even though we know this dynamic to be true, we still seem to get caught in the hypnotic, erroneous notion that if we just got rid of some issues, altered some circumstances, manifested some increased success or changed some specific situations in our lives, then, we'd be happy, peaceful and relaxed (or whatever it is we say we want to experience.)” (Opra Winfrey)

“During bad circumstances, which is the human inheritance, you must decide not to be reduced. You have your humanity, and you must not allow anything to reduce that. We are obliged to know we are global citizens. Disasters remind us we are world citizens, whether we like it or not.” (Maya Angelou)

Our experience of life (grateful, worried, peaceful, angry, excited, sad, alive, depressed, joyous or anything else) is much more of a reflection of us and what's going on within us, not a reaction to what's going on around us. We've all had many times in our lives when things were going great on the surface or we accomplished or experienced some wonderful external success, only to feel a sense of disappointment or sadness underneath because whatever it was didn't satisfy us at a deep level. And, on the flip side, most of us have had moments of incredible joy, excitement and bliss that weren't directly connected to anything worthy of these feelings externally.

There are different changes that we can encounter in our lives and we can reflect it through some quotes about change.  Sometimes it comes as a shock and we are not prepared to face it. However, sometimes the change can be gradual.  There are times that the changes can make us feel sad such as travels confronting broken relationships, making tough decisions or sudden tragedies. Therefore we must be prepared.
 

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Here are somethings you should consider...

1. Make a will.
In a will, you state who you want to inherit your property and name a guardian to care for your young children should something happen to you and the other parent.

2. Consider a trust.
If you hold your property in a living trust, your survivors won't have to go through probate court, a sometimes time-consuming and expensive process.

3. Make health care directives.
Writing out your wishes for health care can protect you if you become unable to make medical decisions for yourself. Health care directives include a health care declaration ("living will") and a power of attorney for health care, which gives someone you choose the power to make decisions if you can't. (In some states, these documents are combined into one, called an advance health care directive.)

4. Make a financial power of attorney.
With a durable power of attorney for finances, you can give a trusted person authority to handle your finances and property if you become incapacitated and unable to handle your own affairs. The person you name to handle your finances is called your agent or attorney-in-fact (but doesn't have to be an attorney).

5.Protect your children's property.
You should name an adult to manage any money and property your minor children may inherit from you. This can be the same person as the personal guardian you name in your will.

6. File beneficiary forms.
Naming a beneficiary for bank accounts and retirement plans makes the account automatically "payable on death" to your beneficiary and allows the funds to skip the probate process. Likewise, in almost all states, you can register your stocks, bonds, or brokerage accounts to transfer to your beneficiary upon your death.

7. Consider life insurance.
If you have young children or own a house, or you may owe significant debts or estate tax when you die, life insurance may be a good idea.


8. Understand estate taxes.
Most estates -- more than 99.7% -- won't owe federal estate taxes. For deaths in 2017, the federal government will impose estate tax at your death only if your taxable estate is worth more than $5.49 million. (This exemption amount rises each year to adjust for inflation.) Also, married couples can transfer up to twice the exempt amount tax-free, and all assets left to a spouse (as long as the spouse is a U.S. citizen) or tax-exempt charity are exempt from the tax.

9. Cover funeral expenses.
Rather than a funeral prepayment plan, which may be unreliable, you can set up a payable-on-death account at your bank and deposit funds into it to pay for your funeral and related expenses.

10. Make final arrangements.
Make your end-of-life wishes known regarding organ and body donation and disposition of your body -- burial or cremation.

11. Protect your business.
If you're the sole owner of a business, you should have a succession plan. If you own a business with others, you should have a buyout agreement.


12. Store your documents.
Your attorney-in-fact and/or your executor (the person you choose in your will to administer your property after you die) may need access to the following documents:

 > will
 > trusts
 > insurance policies
 > real estate deeds
 > certificates for stocks, bonds, annuities
 > information on bank accounts, mutual funds, and safe deposit boxes
 > information on retirement plans, 401(k) accounts, or IRAs
 > information on debts: credit cards, mortgages and loans, utilities, and unpaid taxes
 > information on funeral prepayment plans, and any final arrangements instructions you have made.

Keeping your documents organized will be a great help to your survivors.

This information is not to be considered as “legal advice” by Web Chronical. Merely a reminder for all responsible adults.
 

Those of us here at Web Chronical .com, along with other web sites, are in the process of establishing a new program known as Community Watch across the country. This program will provide mentors for our community youth, community activities for those that have none, in-home computer assistance to make applying for aid simpler and faster and aid to our community families in need.

But to do this, we need your help! Please make a donation today. Thank you in advance!

 

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