Thursday, February 16, 2012


I learned WAY to much about trusts, wills,  living will, financial power of attorney, and advanced medical directives today.    I have none of the above.  I need all of the above.  It costs a lot to have an attorney create all of the above. 

Oddly enough I am not overly worried about most of these things.   I only have one child, and he is the beneficiary on all of my life insurance, etc.  THAT is what worries me.  Not because I don't trust my son but because he is a minor.  I asked an estate planning attorney what would happen to these things if I pass away before my son becomes a legal adult.  It turns out that his new legal guardian would have control over those assets.  His legal guardian would be my ex-husband.  You read that ex-husband.

As soon as my computer booted up, I logged onto my employer's HR site and sent an e-mail to find out if I can get my beneficiary changed for the life insurance, pension, etc that I have through them. I then logged into my investment accounts and changed all of those. 

I know this doesn't give me the same control as a will or trust but until I get those cared for this will have to do.  At least I will know that if something happens to me sooner rather than later, my ex will have no control over anything.  That at least leaves me with some piece of mind.  I have no doubts that the person  I designated will take care of these things responsibly and as I wish.

Soon I will take care of my financial power of attorney, living will, and advanced medical directives.  It has always been in the back of my mind that being single, there is not another adult who knows my finances or what to do in case I am incapacitated.  I guess I just assumed my parents could handle my affairs.  I am learning that it is best not to assume. 

If I think about it too much it makes my head spin, gives me a headache, and I start to worry.  I mean really, really worry.  Especially because I am traveling next week.  I always worry more about these things when I travel.  

But I am not going to worry anymore tonight. I already took care of one thing. Now  I am going to watch Alcatraz On-Demand and relax. 


just call me jo said...

That stuff makes me itchy! I can't think about that now. Call me ostrich with head in sand--yes, ma'm.

Holly said...

I went through the same thing when I was a single parent. I made a file in my file cabinet titled, "In case I die!!!" Like I have a choice in the matter. I told my daughter where the file was so she would know where to look. In the file I put letters that I wrote her and my son. I put a detailed list of all the pertinant info she would need (where to get death certificate, how to file life insurance, 401K info, bank info). It made me feel better.

Sorta Southern Single Mom said...

My lawyer did all mine as part of my divorce. My kids are my beneficiaries, but my father and sister have power of attorney. You remind me though, that it's time to recheck it all.