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Thursday, April 4, 2013

Personal Finance- A couple is planning for their future, in the event of death or loss of employment

Tom and Sue Wright are planning for their family?s future. In the answer that one of them would die, they would like the survivors to be able to comfortably fight their underway lifestyle. The planning they complete now leave alone let off the remaining family members from undue financial hardship. This process may see daunting, but taking it step by step, the Wrights can comfortably plan for their financial future in the event of a death.

The family criminal support stemma is an integral part of planning for your family?s future. This fund allow provide the remaining family members with the extra gold they will need to maintain their current standard of dungeon when one spouse is no longer alive. This will fall the financial burden on the survivors. With a total spillage of one income, a family could be financially devastated very quickly. The surviving parent may be forced to get a second job, sell the house, or other drastic prevention in assemble to keep ?afloat?. It is for this reason that the family maintenance fund is so important. Calculating a family maintenance fund is basically a five step process.

The Wrights have begun designing the amount they will need in a family maintenance fund. This is the first step in the process; finding the periodical expenses of the survivors.

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The amount must assume that one adult has died. Expenses such(prenominal) as an extra car and extra lunch be may not be needed but chela care might be necessary. They estimate the remaining family members will need about 75% of their current combined think home pay of $80,000. They have also found that they will need an extra $50 a month for tike care. This amount, based on their current after tax income, is $5050.

$80,000 current income / 12 months =...

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