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2 Bumps

If you DIED would HE be okay financially??

I was watching Suze Orman on TV and she asked this question and I thought.... hmmm? That is interesting... not many people ask that one!!! SOOoo- of course.. I thought.... let me take this to "the cafe girls"!!! What do you think? Would HE be okay finanially if you died or would you worry about him? Would he have a clue as to what to do with the bills or where all the money is?
Can't wait to see what the responses are to this one!

 
FingerPainter

Asked by FingerPainter at 5:31 PM on Apr. 16, 2011 in Money & Work

Level 13 (1,137 Credits)
This question is closed.
Answers (15)
  • Yes, he lived on his own and took care of himself for years before we ever met. It's a valid concern, though. When my step-mother died, my dad had absolutely no idea where anything was. He knew how to manage a bank account and pay bills and such, but she had converted a lot of things to online billing, and he had no means to navigate that (reminder to everyone - if you use yahoo or gmail as your primary email make sure you have the info available in case of emergency, if you ask them for the login info for a deceased person they will NOT release it - they lock you out until you have a court authorized document giving you permission to log into the account). I spent a lot of time helping him work his way in backwards to each individual company, because yahoo wouldn't give him her password to read all the emails for the billing notifications.
    NotPanicking

    Answer by NotPanicking at 5:37 PM on Apr. 16, 2011

  • Yes - we do the bills together so he knows all of the financial info. It would be a tight couple of years with daycare until the youngest got into school, but he would make it.
    missanc

    Answer by missanc at 5:32 PM on Apr. 16, 2011

  • Yes. I have a life insurance policy, he would get my VA money, and we have plenty in the bank. We only have car payments, insurance, rent, and day to day expenses. I think he can handle it.
    Izsarejman

    Answer by Izsarejman at 5:33 PM on Apr. 16, 2011

  • Yes-- we both have life insurance policies that would cover the entirety of the mortgage (payoff) and 2 years' income should one of us go. We are both engaged in paying the bills, and discuss all financial decisions together. I think the better question is whether he could feed himself... make a balanced meal for our son, or clean the house... or know to get groceries every week without me! :)

    Term life insurance is pretty cheap, so anybody with an extra $30 to spare should look into getting some.
    Busimommi

    Answer by Busimommi at 5:34 PM on Apr. 16, 2011

  • Yes, he would do fine.
    meooma

    Answer by meooma at 5:33 PM on Apr. 16, 2011

  • I have $300,000 in life insurance that would go to my husband, but honestly I think he would be so lost and not have a clue what to do with the kids or how to run the house, who to pay bills to, etc. The only debt we have is the mortgage though. All of our vehicles are paid off an we don't carry balances on credit, etc.
    JulieJacobKyle

    Answer by JulieJacobKyle at 5:35 PM on Apr. 16, 2011

  • Yes, he'd be OK. I do all the bill paying but he knows where everything is to take care of it. I would worry about him emotionally and hope he would move closer to one of our sons.
    elizabr

    Answer by elizabr at 5:35 PM on Apr. 16, 2011

  • yes, I have a great life insurance policy, so he wouldn't have to worry too much about working, his main focus could be the children
    Bubbie0809

    Answer by Bubbie0809 at 6:34 PM on Apr. 16, 2011

  • If I died, about the only thing he'd struggle with is buying the kids clothes. He is perfectly capable of doing everything else. He'd also be financially set, as I have a large amount of life insurance.
    Anonymous

    Answer by Anonymous at 8:25 PM on Apr. 16, 2011

  • Yes, he'd be fine (financially). And I'd be fine financially if he died first.
    Anonymous

    Answer by Anonymous at 9:01 AM on Apr. 17, 2011

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