By David Peel
Assuming everything “automatically” goes to your spouse without a will.
The truth is joint property does not change at the death of one owner. But solely owned assets are only a child’s share to the spouse, but no less than one third. Having a will eliminates this and other issues.
Waiting till your relative is so ill or suffers dementia before you consider getting a power of attorney. Then, once he or she is incompetent, it’s too late for a power of attorney.
Carrying “whatever is cheapest” or “whatever they recommended” levels of car insurance. Your Uninsured Motorists coverage is vital to provide for your household members in the event of a crash. I recommend at least $100,000 UM coverage.
Turning down disability insurance at work. If your company is offering disability insurance, please consider it carefully.
On average, it takes over 18 months to get on Social Security Disability from the time of application. Disability insurance can tide you over. Private policies are available, from providers such as from AFLAC.
Assuming after an accident that the “police will talk to all these people.” Unfortunately, eyewitnesses often do not want to get involved and police have to deal with traffic and other concerns.
Recently, I had several reports that indicated no witnesses where there were several. Sometimes we can track them down through their 911 call, but many just disappear.
If you want more tips, I have compiled many of my articles in my book now available on Amazon “Two Feet or Ten: Perspective Matters: What You Don’t See When You Drive.”
Peel seeks justice for those injured in tractor trailer and car accidents, medical malpractice, and disability. He often addresses churches, clubs and groups without charge. Peel may be reached through PeelLawFirm.com wherein other articles may be accessed.
