Financial Planning for Sudden Loss

In Saturday’s NY Times this week, Chanel Reynolds reveals how after her 43-year-old husband suddenly died in 2009 after being hit by a car while riding his bicycle, she had to get her financial life in order.

Reynold’s husband, Jose Hernandez, hadn’t left any paperwork, including a signed will that would make it easy for her to carry on with his two children, her stepchildren, both of them under 15 years old.

She quickly learned that she did not have access to his financial accounts, and the only money she could        access was a life insurance policy. That was her saving grace.

As a result of her experiences, she created a website,,  that allows you to plan for such unexpected occurrences. As cyclists, we should pay special head to this story.

Reynold’s now has a $1M life insurance policy, and a will of her own.

Also on her list, that everyone leave a trace of who they are before they die–such as videos, photos, and other memory inducers.

“The site offers some basic financial advice, gives away free templates for a master checklist and provides starter forms to draft a will, living will and power of attorney. There’s also a guide to starting a list of all of the accounts in your life that someone might need to access and shut down in your absence.”

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