The New York Times published an article by Paul Sullivan entitled, "How to Plan for the Unforeseen" (Oct 08, 2017). Provided below is a brief summary of the article published at nytimes.com:
How to Plan for the Unforeseen
Thinking about an unexpected, life changing event can be unsettling, but sadly, this can happen at any time. Unfortunately, because death or illness can happen unexpectedly, people do not plan for such events. Statistically, most younger people could go years without planning and not really worry about it. Without proper planning, consequences can be magnified, so what does it take to get people to lay out their wishes concerning their finances, health care, and possessions, plus any emotional messages to loved ones? According to advisers, it takes a lot.
Take the desire to ensure that your family is cared for if you die unexpectedly. Parents are advised to buy relatively inexpensive term life insurance to provide money to care for their children, just in case. “The best way to plan for an event you can’t control is to put your own plan in place,” said Sharon Klein, president of the New York metropolitan region for Wilmington Trust. “Otherwise, someone else is going to be putting a plan in place for you.”
To continue more in depth on this issue, please continue to read the full article "How to Plan for the Unforeseen" from nytimes.com