By Skyline On Wednesday, October 04 th, 2017 · In

FIELD NOTE: OCTOBER 2017

ARE YOU PREPARED?

An Emergency-Prepared House

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In an unpredictable world, it is prudent to be prepared for the unexpected. Skyline suggests taking a calculated approach to emergency risk mitigation. In addition to keeping basic emergency supplies stocked, consider the following financial preparation tips:

  1. Review your insurance policies and determine if you need more comprehensive coverage; losses due to earthquakes and floods are often excluded from home insurance.

 

  1. Make sure family members are able to access your will, trust, TOD agreements, POA, DNR, and health care proxy. Upload all important documents to your Box.com account for safekeeping.

 

  1. Prioritize funding your emergency savings accounts. When was the last time you spoke with your advisor about your emergency fund strategy?

 

  1. Update your will and beneficiary information whenever necessary and as soon as possible.

For a thorough emergency preparation checklist, we encourage you to complete this “Financial First Aid Kit” produced by the Federal Emergency Management Agency (FEMA). For more emergency preparation tips, download the FEMA app and visit Ready.gov.

Sources: FEMA, US Census, and the Insurance Information Institute

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