Is your business ready for you to die?
We don’t want to imagine the worst possible outcome, but if we don’t our family and loved ones may end up paying the price for our lack of preparation.
When my father passed away suddenly after clocking into the job he’d worked at for 20 plus years, I had no idea how to move forward. Neither did my mother, his divorced wife. But, his long time girl-friend and business partner had been planning, or had the benefit of direct contact with my father’s planning.
While my mother and I scrambled to find out who got his life insurance policy and who was responsible for his bills, his girlfriend had access to all his paperwork and online access points. I’m not holding a grudge. In fact, I’m actually grateful that he shared it with someone at all.
You see, it was sudden. Really sudden. It was 11 pm and my father had just clocked in, walked about half way to his work station and just colapsed. He was dead right away. I don’t know if it was his heart or an aneurism because I wasn’t given access to the information. All that mattered was that he was gone, along with all the information he kept in his head.
So, where do you keep your very valuable and important information?
In your head? In a notebook here and there? In some file on your computer?
How about you actually organize it? I did. And, I try to update it often. At least once a week or any time I create a new account.
There are many ways to do it, but it’s more important to get it done than it is to figure out how to do it.
Now, you need to share it with someone who will help manage it all when you are gone.
When my best friend passed suddenly from a car wreck, her husband had to call me to help close out her online business accounts and websites. He didn’t know how to access any of it and she hadn’t ever told him how or where to look in case of an emergency.
I didn’t know all her information either, but at least I knew who to contact in order to help close out accounts and notify online contacts.
Does your husband or wife know what to do if you should die tomorrow? What about your business partners?
Here are some things to consider tracking
- Who needs to be paid for work they did on your behalf?
- Who did you owe products or services to?
- What systems will auto charge your credit cards on a monthly basis?
- Which people on your team – or in your family need to know these things?
- Where is it easily accessed for those people?
There is no better time than now – because now may be the last we have.
This post is part of a blog hop series sponsored by students and graduate Coaches of ICA. Please hop on over to their posts and see what else you can learn about ”The Power of Now”
- Sandra Seibert – Joyful Growth Coach http://joyfulgrowthcoach.com/2012/02/the-power-of-now-a-moment-of-stillness/
- renee Vos de Wael – Intuitive Coach http://reneevosdewael.com/2012/02/20/is-the-power-now/
- Namrata Arora – Life and Career Coach for women in transitions http://aboutcoaching.wordpress.com/2012/02/18/the-power-of-now/
- tracy Coan – Bodacious Possibilities http://bodaciouspossibilities.com/2012/02/choose-you-choose-now/
- jayde Gilmore – Wings LifeCoaching http://wingslifecoaching.tumblr.com/
- randy Morris-Chaudhry – Illuminated Perspective http://www.illuminatingpotential.com/
- nuria Lencina – Coachinu http://coachinublog.com/2012/02/20/the-power-of-now/
- pamela Rudisill – In Sight Life Coaching http://insightlifecoaching.co/2012/02/20/the-power-of-now/
- kenetha Stanton – Chrysalis Wellness http://www.chrysalis-wellness.com/2012/02/19/the-power-of-now/
- Louise Gray – Communication Coach, Learner Focused Coaching http://learnerfocusedcoaching.com/2012/02/20/what-was-i-saying/ ?