By: Ileana T. Hammac, Deposit Servicing Supervisor
You grew up with parents whom you love, honor and respect. They mean the world to you, and all others pale in comparison to them. It is unthinkable to know that one day they won’t be with you, but that day does indeed come.
In a monumental effort to honor your parent’s final wishes, you now find yourself working in a fog of paperwork and telephone calls. Amid your deep sorrow, you sit in stunned silence as you find out that you are not the beneficiary of your loved one’s accounts. Furthermore, your parent never updated that portion of their membership application in all the years that they were members or customers of their financial institution. As heartbreaking as it is, you now have to hold off on mourning this treasured person while you contemplate your next steps. Your long journey has only just begun.
No one should ever have to be in this traumatic situation, so it’s important that you prevent it from happening to your own children and family members in the future. Don’t leave them stunned, confused and overwhelmed during a time in their lives that is already painful enough. Being proactive and keeping your beneficiary information updated will ensure your loved ones will be taken care of when you leave them behind. Here are a few preventive steps you can immediately take to protect your cherished family members:
As difficult as it is to think of not being with those we hold so dear to our hearts, it’s critical that we are always prepared. Just a few hours of planning now saves our family members a lifetime of extra heartache and stress after we are gone.
*The content provided in this blog consists of the opinions and ideas of the author alone and should be used for informational purposes only. VyStar Credit Union disclaims any liability for decisions you make based on the information provided.