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Legacy Drawer: Keep Your Family Prepared
Don't overlook this essential part of your financial plan
from daveramsey.com on October 7, 2010
If you've listened to Dave for any amount of time, you've heard him talk about the Legacy Drawer. So what is it? Basically, it's a drawer that houses all of the important information your family needs in case something happens to you. Preparing for when you are no longer here is not a fun task, but it's crucial to do this for your family.
Every household needs a Legacy Drawer. It doesn't matter if you're single with no kids or 76 and have 12 grandkids—you need a Legacy Drawer. It's the last gift you will give your family, so make it a good one. If you truly care about your loved ones, you will take the time to create a Legacy Drawer.
The drawer should be somewhere in your home and contain everything your spouse or family needs to know if you aren't around—anything that has to do with your financial life should be in that drawer. You must organize it in a way that anyone can find a specific document in 30 seconds. All files should be clearly marked, in order, and easy for a grieving family member to find. There's no need to go into extreme detail when creating your Legacy Drawer. Simply include the appropriate documents in an easy-to-understand format, and you're good to go! > Read full article
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