• Stephanie

    Depending on the financial situation, a stay-at-home parent should probably look into life insurance as well, at least until the kids hit adulthood. A sudden death causes a huge upheaval in daily life, and it can be really hard for the breadwinner to readjust. At the very least, that insurance amount can help to cover a year of child care to ease the readjustment.

    • Scott Powers

      Stephanie that is an excellent point! When my wife decided to stay at home after our youngest was born we still had a good size policy in place on her. We knew it would need to cover not only child care and funeral expenses, but also allow me to be able to ease my way back into work. Thanks for that great contribution!

  • http://Kiplinger.com Cameron Huddleston

    Scott —
    Even next of kin need power of attorney to handle a parent’s (or other relative’s) finances if they no longer can. No financial institution (bank, credit card company, insurance company, brokerage) will let you make any decisions for someone else (even if it’s your mom, dad, sibling) unless you’ve been designated power of attorney. And if you’re designated as someone’s power of attorney, you need that document to show to financial institutions to prove that you have power of attorney.

  • Scott Powers

    Hi Cameron, thanks for catching that! There was a miscommunication as this was being edited concerning power of attorney and estate executor, thus the “next of kin” line was accidently left in there. We made the necessary correction and you are right in your assessment of the power of attorney. My estate attorney keeps all copies of this document at his office and only releases it upon request (with supporting evidence as to why it is needed) to keep it from being abused. Thanks so much for contributing to the post!

  • Lorna

    I’a­m fre­ela­ncin­g on­l­ine, by comp­leting som­e sim­ple jobs which onl­y requir­ed desk­top or laptop com­puter an­d in­ternet conne­ction and I am happ­ier than ev­er… It’s be­en 6 mont­hs si­nce i star­ted thi­s a­nd i got pa­id in tot­al $­36,00­0… Ba­sic­ly i get pai­d close to 80 doll­ars/ho­ur an­d w­ork f­or 3 to 4 hr­s a day.Best pa­rt to whole t­his thi­ng is th­at yo­u c­an m­ake your o­wn schedu­le whe­n you wor­k and for h­ow long and yo­u ge­t pai­d at the en­d of ever­y wee­k

Back to top
mobile desktop