AD | I’ve been thinking a lot about our family recently, especially where Flora’s concerned. Alan and I have a list of things we want to put in place to ensure she’ll be looked after, should anything happen to us. Without wishing to sound morbid, as responsible parents, planning for the future is something we believe we need to consider.
What are we planning for the future?
There’s never a good time to do this, is there? Day-to-day life has a habit of getting in the way. The school run, shopping, cooking, cleaning, washing, gardening, holidays, oh yes, and work, they all seem to come first. But sometimes you do have to sit down and take stock. Here are some of our priorities.
Our health
As a desk-bound worker (albeit a freelancer), I’m aware that my physical health isn’t improving. I wrote recently about my decision to try to live a healthier lifestyle. Well, I’ve made a start: I’m exercising daily and have cut down on my meat and dairy consumption. Alan already exercises every day and has cut back on his wheat consumption as well.
Our wills
We both have wills but they’re very out of date, we made them before Flora was born. If either Alan or I died, the other would inherit as we’re married. But if we both died, Flora could be made a ward of court while our estate went through due process. That’s a very scary thought.
We want to formally nominate some guardians for her (until she legally becomes an adult). The couple we have in mind have kindly agreed, so now we need to make an appointment with our family solicitor and get things written up properly. And take out some form of life cover too.
Insurance
We’ve taken out various insurance policies over the years: life cover, car insurance, pet insurance, travel insurance (I would NEVER travel anywhere without it), home contents cover, buildings cover. And yet there’s always the niggle at the back of my mind: what if either of us was to fall ill and be unable to work? Alan and I are both self-employed and work from home, there’s no big corporation behind us to step in and help if we couldn’t pay our bills.
A recent survey from Pure Cover showed that 44% of us couldn’t cover our household bills if we became unwell and unable to work, while 66% of people in the UK don’t have any financial support in place to cover the cost of looking after a sick child (just imagine what this means for single parents…)
Looking at those statistics, planning for the future by thinking about some form of insurance for Flora doesn’t seem so bizarre. We set up a Child Trust Fund (now an JISA) for her when she was born but she can’t take advantage of that until she’s 18. What if, God forbid, she became seriously ill and needed months of hospital treatment?
We’re very lucky to have the NHS in this country, but what if she needed expensive medication and/or consultations? Or if we had to adapt our home for her due to a debilitating illness? Or, in the worst of all possible outcomes, we needed to take time off for bereavement leave? Hand on heart, I don’t think we could find the money all that quickly.
Planning for the future by taking care of our family now
As I said earlier, I don’t want be alarmist. But I think it’s important not to get too bogged down with day-to-day events and issues. Sometimes we really do need to take a step back and look at the bigger picture when planning for the future, don’t you think?
None of us like to think about really terrible “what if” scenarios, but what if the worst were to happen? Have you done any planning for the future? If not, what would you do?
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This is definitely a scary and daunting post and topic but super important all the same. More so for you, with a daughter though. I’m glad to hear you have guardians for her should anything happen, as much as it doesn’t bear thinking about at least that provides some comfort 🙂 xxx
It is an important topic, but while I don’t want to put the frighteners on anyone, I do think it’s a conversation worth having. Thank you for your lovely comment xx
I think this is very important and there’s a security knowing what you have in place. My husband and I have been talking about this as well.
Jennifer
Yes, exactly, I do think it’s important, even if it’s not a fun topic to raise, thank you for your comment x
This is an interesting topic and not something I’ve really thought about – maybe I should start? I have a pension but apart from that I don’t have much financial stability for when I’m older or anything for my family members should I fall I’ll (or worse). Thanks for sharing.
I think it’s for the what if scenario. TBH, it’s not something I’d ever thought about but since we’ve had Flora, it’s become a must do rather than not x
These are some important things to keep in mind and plan. My husband and I have taken care of so many things for our kids. 🙂 You have put forward some serious points that everyone needs to think about. 🙂
Via | http://glossnglitters.com
Thank you so much, Via, I hope so xx
These are horrible things to have to think about, but so necessary.
I don’t have a will and I often think about that. I don’t have children, so it’s not as hugely important that I have one yet.. although maybe I still should.
Great post. ♥
TBH, if we didn’t have Flora, I don’t think it’s something I’d have as a priority either but, as you say, it’s necessary. Fingers crossed though 🙂 xx