Frank is my of my readers and his question was: ” What steps should I take if I die before my spouse?” Frank lives in Rutland, Vermont.

Answer to Readers Question: You need to look into what is called “Estate Planning”. Basically, you need a last will and testament to say who gets what, life insurance to cover any debts, taxes or final expenses. You should talk to a financial consultant or insurance broker who is familiar with estate planning.

If you still have a mortgage on your home, consider purchasing a mortgage protection insurance policy. Among other coverage benefits, these policies pay off your mortgage in the event of death. I recommend fully researching the benefit of purchasing a policy like this if you don’t already have one. If your life insurance policy includes enough money for your surviving spouse to make mortgage payments then this extra insurance may be unnecessary.