We never know when the time may come but if something unexpected had to happen to your spouse, do you have a plan in place?
We shouldn't only plan for death but also in case our spouse is struck down by an accident or a stroke. Where your spouse is unable to make decisions.
To protect one another you need to have a plan in place:
1. Have a general power of attorney drawn up between each spouse, that can be used to access accounts or etc in case of an emergency.
2. Have an emergency fund in place that is readily available depending on your budget anything between R20-R50k. Put this in a joint accountant giving each party full signing rights (not joint).
3. Make sure your spouse knows the codes to Internet banking and pin numbers to cards.
4. Keep all your documents in a safe place where your spouse can easily access them in the event of an emergency.
Planning brings peace of mind and helps in time of crisis.
