At Super-Advice we are about all things financial, but more importantly, helping people understand so they can get ahead financially.
Today we want to talk about two things that you should 100% have organised before you get smoked. No one knows when the grim reaper is coming and if you don’t have these things organised, it’s just gonna be a drama.
Have a Will
Number one, have a Will.
Did you know that 50% of New Zealanders don’t have a will? That means half of you are gonna leave behind a nightmare for other people to sort out.
And those other people will likely be your loved ones, and that could cause arguments. She wants that. I want that etc. You know what I mean? And who’s gonna look after your dog?
So get a will.
Make a Will Online with Footprint
We use a wonderful business called Footprint. https://www.myfootprint.co.nz/
They’ve got two options.
Option one, is you just do a single will and advise what you want (assets) to go to where. And then when you need to update it in the future, you just have to pay another fee and then you can update it.
Or Option two, It’s a subscription, and for a small amount, you can update your will every year or whenever you need to and they give you some other cool things like a digital vault to keep all your important digital documents. It’s just a nice clean way to do it because you pretty quickly figure out that the will you have today is probably gonna be different to the will you need tomorrow.
And that subscription service is very handy for that, and it’s a small amount.
We want to make it easy for you so here’s a voucher code.
Use the code SUPERAD and you will get a discount.
The other thing you need is life insurance.
It costs money to have a funeral.
It costs money to be put in the ground or to be cremated.
It costs money to pay the debt that you might leave behind.
If you’re the sole income earner in your house, you are gonna leave a bunch of people with no freaking money.
Life insurance It’s actually ridiculously cheapif you are in decent Health.
Health insurance is expensive. Income protection insurance is pretty expensive. Trauma insurance is pretty expensive, but life insurance is cheap as chips.
Have a talk to us and we can help sort that out for you.
Life Insurance for Business Partners
There’s also life insurance for business purposes, which I’ll quickly cover. So if you own a business and you have business partners, you should all be insured as shareholders.
If one of the business partners gets smoked and is no longer there, it triggers a life insurance policy. The money comes into the business. You give the money to the surviving spouse of your departing business partner and you take back your business partner’s ownership or equity position in the business so that you can just maintain control.
You also might want to insure someone who is crucial. A key person crucial to the ongoing success and prosperity of your business. If that person was no longer there, what does that mean with regards to moving forward with your plans, to your cash flow, to the relationships they might hold that you don’t?
An injection of cash can just get you through what is usually a shitty time .
In summary, get a freaking Will and get your freaking life insurance sorted out.
If you need help putting any protection in place or need more information please come through to us.
That’s a wrap
So what do you think? Has this helped?
If you need any financial help or advice please get in touch with us at Super-Advice.