The love file. I was thinking about it yesterday for some reason. I can't remember if it is a Dave Ramsey idea, but the love file is a good idea. The love file holds everything that your loved ones need to know if you should happen to die.
Life insurance. Who is the agent. What is the phone number. How much is is the coverage.
Car insurance. same info.
Savings accounts. Location. Account numbers.
Online accounts. Logins and Passwords.
Mortgage. Who is it with? How much is the payment. When is it due.
What are the general bills. When are they paid. How do you usually handle them. A copy of every monthly statement.
Is there a 401K or retirement. Location. passwords.
A copy of your will.
Any instructions for your funeral.
In general, every piece of information in one manilla file that would help your spouse or children know everything and anything about how your life is managed. One of these days, they are going to need it. It is kind of a funny feeling to put it all together, but it provides you with some peace of mind, and your family will one day be glad that you did it.
It's a beautiful day in God's world, be sure to see the good.
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Great reminder, Jeff. You might have included the phrase: DO IT NOW! We'd all like to think that we'll live into our 80s or 90s, and should have plenty of time to put our "love file" together, but we know that's not always the case.
It's just too important to put off.
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